EAM S Jaishankar says that the way the world is right now makes it clear that India and Australia should work together.
External Affairs Minister S. Jaishankar said on Saturday that countries like India and Australia need to work together more to shape the way the world is going.
At the Raisina @ Sydney’s Business Breakfast, Jaishankar gave the keynote speech. He said that the state of the world makes it clear that India and Australia should work together more.
“Building more reliable and resilient supply chains is one of the things that India, Australia, and Japan have started doing,” said the minister who is in Australia.
India and Australia are “on track” to strengthen their ties, and the India-Australia Economic Cooperation and Trade Agreement (ECTA) will “turbocharge” the relationship.
The India-Australia ECTA, which was signed on April 2, 2022, went into effect on December 29, 2021. GTRI, an economic think tank, says that the agreement will help the two countries trade goods and services worth more than USD 70 billion in the next five years.
“The way the world is right now makes it clear that India and Australia should work together more… Jaishankar said, “I think we can see where the world is going, and it’s in transition, so countries like India and Australia need to work together more to shape where the world is going.”
He said that India’s goal for this year is for its economy to grow by 7%.
“But we do think it will get better in five years. “We are sure that we will stay in that 7–9% range for at least a decade or a decade and a half,” he said.
Jaishankar said that the strong economy and good investment climate in India today are the result of decisions made during hard times.
“Our ability to create, work together, and make things shows that we have economic confidence,” he said.
The minister said that a large number of talented Indian people have moved to Australia.
“How can we improve our ability to teach skills and knowledge? We would love it if Australian universities in India did that,” he said.
“And for us, it’s not just about Indian students going to Australia. It’s also about India and Australia working together in India to make more skilled, more competent talent,” he said.
