How The Agreement Between India And Australia Will Strengthen The Education And Business Link
In president Ram Nath Kovind’s recent visit to Australia, various things were addressed with Governor General Peter Cosgrove and Prime Minister Scott Morrison of Australia. India and Australia have agreed to ink pact on five major fields. This includes education and business as well. This collaboration will help students and aspiring entrepreneurs of both nations. Read on to know more about it…
The agreement signed between the Government of India and the Government of Australia includes the following-
- Cooperation in the area of disability and to deliver services to the differently-abled.
- An agreement between Invest India and Austrade to facilitate bilateral investment.
- To foster scientific collaboration and innovation, an agreement is made between the Central Mine Planning and Design Institute, based in Ranchi, and the Commonwealth Scientific and Research Organisation, based in Canberra.
- For cooperation in agricultural research and education, The Acharya N.G. Ranga Agricultural University, Guntur, collaborated with the University of Western Australia, Perth.
- A Joint PhD agreement between the Indraprashta Institute of Information Technology, Delhi, and the Queensland University of Technology, Brisbane.
Opportunity for Foreign Investors
India has renewed its commitment to a liberal, transparent and globalised economy. India drew almost $ 62 billion in FDI.
Thus, India is open to foreign capital and international investors. There is a whole lot of business sectors available in India, from aviation to mining to defence production, has had doors thrown open to global players and investors.
In fact, to make India even more of a hub for new, exciting and global businesses, several measures – fiscal and regulatory, infrastructure promotion and investment policy – have been taken.
Establishing a Symbiotic relationship
India is the world’s fastest-growing major economy and offers more opportunity for Australian business over the next 20 years than any other single market.
Simon Birmingham, Australian Trade Minister, said, “Our work will focus on greater economic engagement targeting 10 Indian states and 10 key sectors while providing practical support for Australian businesses entering or expanding operations in India.”
Australia and India are also planning to collaborate and benefit from each other’s expertise in fintech and logistics, in industrial design and biotech, in the capital markets and in farm-to-fork management of the food chain – even in space tech and satellite launch services.