Federal Minister of Trade, Tourism and Investment Dan Tehan has officially launched the Ministry of Foreign Affairs and Trade. India’s Economic Strategy Update report at an event hosted by the Australia India Institute at the University of Melbourne.
Australia India Institute CEO Lisa Singh said India’s Economic Strategy (IES) created a plan for the future of Australia’s economic engagement with India and remains a key framework for driving Australia – India relations forward.
“IES, published in 2018 under the authorship of Peter Varghese, laid the foundation for a stronger Australia and India economic partnership,” Ms Singh said.
“This update from the Department of Foreign Affairs and Trade provides the necessary focus for a long-term bilateral relationship in a post-pandemic world.”
Minister Tehan also attended a Q&A with Mrs Singh and the Business Council of Australia’s Executive Director Jennifer Westacott to discuss how the strategy will contribute to Australia’s economic partnership with India.
Ms Singh acknowledged the mutual report from India and said: “Since the publication of IES, we have seen the launch of the Mutual Australia Economic Strategy Report in 2020, written by Ambassador Anil Wadhwa, former Indian Secretary (East) in the Ministry of External Affairs .
“These two drawings really show the commitment that both countries are seeking to strengthen economic ties.”
Ms Singh also launched the Australia India Institute’s new strategic plan: Building a dynamic and lasting partnership, as she said complimented the framework of IES.
“IES has helped inform our new five-year strategy through the development of our program areas for security and geopolitics, bilateral economics and cultural diplomacy.
“I look forward to the Institute working with the Australian Government on new energy and commitment to deliver on these new initiatives in the IES Update,” Ms Singh said.
University of Melbourne Vice Chancellor (International) Professor Michael Wesley said the university appreciated the Australia India Institute’s efforts to strengthen the lasting partnership between the two nations.
“The relationship between Australia and India is an area of growing collaboration and collaboration for our university, which greatly benefits our research work and the dynamics of our students’ society and culture,” said Professor Wesley.