Already our fourth-largest export market in 2024, India will be the world's third-largest economy by the end of the decade. At the same time, climate change, strategic shifts and economic trends are all re-shaping our region–with India playing a growing role.
We must therefore adapt and refine our efforts to grow the Australia-India economic relationship for mutual benefit. We want to be ambitious for Australia's interests, while contributing to India's growth story.
The untapped potential is significant. To focus and accelerate our efforts in the most prospective possible sectors, the Australian Government is launching consultations on a new roadmap for Australia's Economic Engagement with India, to build on the landmark 2018 economic strategy by former Secretary of the Department of Foreign Affairs and Trade and High Commissioner to India, Mr Peter Varghese.
The roadmap will take stock of existing economic initiatives with India and explore innovative ways of doing more together. It will also support efforts to secure Australia's place in a changing global economic and strategic landscape through our 'Future Made in Australia' initiative.
How can you get involved?
Public submissions to inform the Roadmap are now open, and can be made until 5 August 2024. Please send your submissions to IndiaEconomicRoadmap@dfat.gov.au with your contact details and location.
DFAT will also be conducting consultations in state capitals in Australia and in India. If you are interested in meeting with us, please let us know at IndiaEconomicRoadmap@dfat.gov.au with your contact details and location.
We are seeking input to the roadmap from voices in Australia and India:
- Businesses working in Australia and India
- including regionally based, women-led and First Nations businesses
- Research centres and academia
- Members of Indian-Australian communities
- India-focused NGOs and civil society organisations
- State and territory governments
- Local governments
Please see the discussion paper for important information to consider in your submission: