Bilateral Relations

KEY POINTS

Untapped Opportunities

Agriculture

·         High dependency on monsoon for India; Water scarcity in many arable areas for Australia is a mutual concern.

·         Stakeholders from both the nations can collaborate for joint research towards innovation in addressing the water scarcity problem and crop cultivation techniques to yield more. 

·         India can benefit from Australia’s expertise in building a strong cold storage industry to ensure a robust agricultural supply chain.

·         Allowing 100 per cent FDI in setting up of cold storage units, the sector presents an attractive opportunity for Australian investors.

·         Partnerships in areas of dairy farming and technology, breeding and genetics, food processing and research can emerge as key pillars of the bilateral relationship.

Energy

·         India can look at increasing LNG supplies from Australia to diversify its concentrated supply from the Middle East.

·         Bilateral Energy Security Dialogue last year increased the engagement in the energy sector and the Australian businesses stand to gain significantly from access to the huge energy market in India.

Education

·         India partnering with globally ranked Australian universities, encourages faculty development, improve quality assurance protocols and greatly enhance student achievement.

·         Through innovative digital platforms, India and Australia can offer Massive Open Online Courses (MOOCs) to facilitate knowledge and cultural exchange.

Smart cities

·         With urban population expected to reach 50 per cent by 2051, there is an immediate need for our cities to be Future Ready to accommodate this steep demand.

·         While the Government of India has launched its ambitious Smart Cities Mission, International collaboration can fast-track the actualisation of the same.

·         Australia, as one of the most urbanised nations in the world, can be an important partner for India in building sustainable urban design, improving construction productivity, enhancing water resource management and designing smart urban transport.

Healthcare and life sciences

·         Vast opportunities for collaboration exist in the field of telemedicine, digital health and pharmaceuticals among others, which can immensely boost accessibility of healthcare services in our country.

·         India can greatly benefit from Australia’s expertise in providing aged-care, while Australian investors can leverage the untapped potential of this sector in India.