India is the world's fastest growing major economy. Not only is it growing fast, but it is growing in ways that enhance our natural economic complementarity. There are enormous opportunities ahead if we can draw on our commercial, entrepreneurial and people-to-people strengths to accelerate our economic engagement.
A New Roadmap for Australia's Economic Engagement with India outlines how the Government intends to seize the opportunity that our relationship with India presents.
Informed by over 400 consultations with private firms and public institutions in every Australian state and territory, and in India, the Roadmap aims to focus and accelerate our efforts on the sectors of most significant potential and set the course for the next phase of our economic relationship with India.
The Roadmap identifies four focus sectors – clean energy, education and skills, agribusiness and technology, and tourism. It also looks at other prospective sectors (defence industries, sports, culture, space, and technology) and highlights the unique insights of our Indian-Australian communities and the role of state and territory governments.
The Roadmap builds on the 2018 India Economic Strategy to 2035, by Peter Varghese AO, refining and adapting our approach in response to economic, environmental and geostrategic developments.
DFAT thanks all contributors to the consultation process for the Roadmap.