India Economic Strategy Update

An India Economic Strategy to 2035: Navigating from Potential to Delivery (IES) was presented as an independent report to the Australian Government in 2018 as a roadmap to deepen economic integration with India. The IES persuasively argued that no country would offer more growth opportunities for Australian businesses than India over the coming decades.

Centre for Australia-India Relations

Will grow our community and cultural links, work in practical ways to help businesses succeed in the Indian market, and channel the expertise of the Indian-Australian community.

Expanding our Diplomatic Footprint and Technology Sector Cooperation

• An New Consulate-General in Bengaluru will help plug Australian businesses into India’s booming digital economy and innovation ecosystem, and reinforce our growing links in the space sector
• An Australia-India Innovation Network will help Australian and Indian firms commercialise critical technologies and services, access investment, and encourage the development of deeper supply chains
• An Australia-India Centre of Excellence for Critical and Emerging Technology Policy will build our shared capacity to influence global technology standards and settings and help ensure that technology continues to make us safer, healthier, wealthier and freer.

Enabling our Vibrant Diaspora Community and Businesses

• A diaspora mapping report will highlight key networks such as Australian company directors, professionals, academics, and entrepreneurs of Indian ancestry. This research will underpin a diaspora engagement strategy to better target our engagement and grow ties between Australia and India.
• The newly formed Business Champions grouping will accelerate commercial engagement and provide an avenue to work with governments on improving the business environment

Strengthening our Education and Research Links

• The Maitri Scholars, Grants and Fellowships Initiatives will support some of the best and brightest Indian students to study in Australia, and will build links between our future leaders
• An industry-led Australia-India Future Skills Initiative will position Australia as a skills provider of choice for India to meet critical and emerging labour force requirements
• The Australian Researcher Cooperation Hub will continue to strengthen bilateral research collaboration and showcase the research excellence of both countries.

Accelerating the New Energy Economy

• The India-Australia Green Steel partnership will support innovative technologies that will deliver jobs of the future to the resources sector in the transition to a low emissions economy

Broadening our Resources and METS Relationship

• An Australia-India Critical Minerals Research Partnership and an Australia-India Critical Minerals Investment Partnership will strengthen supply chains, add value to Australian exports, and work with India to commercialise technology
• A Resources and METS Industry Market Access and Preparedness Program will help resources and METS companies better understand how to do business in South Asia
• A Global Mining Challenge – India will connect Indian miners facing major technical and operational challenges with world-leading Australian solutions.

Building our Science and Innovation Ties

• Ongoing funding for the Australia-India Strategic Research Fund will ensure a dedicated stream of research with India, supporting a science and innovation relationship that drives growth and increases productivity
• Expanding International Space Investment Initiative funding to support collaboration on satellite communications, navigation systems, earth observation and its applications, and big data analytics to support mutual policy priorities.
• The India-Australia Innovation and Technology Challenge will support entrepreneurs and small businesses to scale-up for market around 20 cutting edge Australian and Indian innovations a year.

Laying the Ground for Greater Trade

• The India-Australia grains partnership will continue to strengthen logistics and supply chains and support agricultural trade

Building Potential in Infrastructure

• The Australia-India Infrastructure Forum will smooth the path for Australian firms to engage with India’s vast infrastructure plans and prospects.

Expanding our Regional Presence

• An Australian High Commission in Malé will deepen our education, tourism and broader economic linkages in the Maldives
• The Bay of Bengal Trade and Energy Partnership will deliver greater export opportunities in India, Bangladesh and Sri Lanka

Boosting the Creative and Cultural Industries

• The Maitri Cultural Partnership will support projects, events, exhibitions and professional exchanges in the visual and performing arts, literature, film, and music sectors.