Australia launches 'Vision India 2035'

Why in the discussion?


Recently, Indian President Ramnath Kovind visited Australia. This was the first Australia visit of any President of India to the purpose of strengthening mutual relations. During this visit, the President of India participated in many activities and celebrations. The President addressed the Australian Financial Review India Business Summit and Australia-India Business Council during this visit.

There were five agreements

  1. Under the agreement for Disability, services will be improved for the specially enabled persons (Differently Abled Persons).
    2.  
  2. Agreement between Invest India and Austrade to increase bilateral investment in trade between the two countries.
    3.  
  3. Agreement for enhancing mutual cooperation between the Central Mine Planning and Design Institute, Ranchi and the Commonwealth Scientific and Riches Organization, Canberra.
    4.  
  4. Acharya N.G. Agreement to increase cooperation in agricultural research between Ranga Agricultural University, Guntur and Univirtity of Western Australia, Perth.
    5.  
  5. Joint PhD between Indraprastha Information Technology Institute, New Delhi and Queensland Technology University, Brisbane. a settlement.

Australia launches 'Vision India 2035' 
(India Economic Survey Report)


During the visit of the President of India, the Government of Australia launched Vision India 2035. By 2035, this Vision Document will shape the bilateral relations between the two countries. Apart from this, Australian Prime Minister Scott Morrison also announced the implementation of the 'India Economic Survey' report. Significantly, the India Economic Survey is a report prepared by former Australian journalist Peter Varghese, which was released earlier this year. Australia has agreed to implement some important recommendations of this report during the next twelve months. These include food partnership, extension of mining business and better air connectivity. The Minister of Education, Agribusiness, Resources and Tourism Affairs of Australia will monitor the progress of the Government's response and continuously monitor the implementation of India Economic.
This report has made extensive recommendations to strengthen relations between Australia and Indian states to improve Indo-Australia relations. This report provides a roadmap for Australia's economic future with India. Australia believes that India is the fastest growing economy in the world and in the next 20 years Australian business offers more opportunities than any other single market.
The Australian Financial Review India Business Summit emphasized that both countries can benefit from each other's expertise in collaborating with Fin-Tech and Logistics, Industrial Design, Biotech and Capital Markets. The financial and regulatory steps taken by India in recent times, structural enhancement and investment policy are to make the country a center of global business. India's manufacturing and service sector can become a hub of emerging technology alongside the agro industry. There is a Consumer Base in India for Australian companies and investors and there is considerable scope for profit.


What is Invest India?


Invest India deals with promoting business and business relations with foreigners. This is India's National Investment Promotion and Facilitation Agency which has been created by investors in the country to increase cooperation and facilitate investment. Invest India is the official investment promotion and facility provider agency of the Indian government, which has been entrusted with responsibility to facilitate investment in the country. This is the first center for potential global investors in the country.
Recently, Invest India has also been awarded UN specialty award for promoting investment in sustainable development. This award was given by Armenia President Arman Sardisian in the World Investment Forum in Geneva, CEO of Invest India, Deepak Bagla. This award is given by the United Nations Conference on Trade and Investment (UNCTAD).


Source: PIB + The Hindu, Economic Times


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