External Affairs Minister S Jaishankar said on Saturday that it is necessary for countries liꩲke India and Australia to work together more closel🍷y to shape the direction in which the world is going.
Delivering the keynote address at Raisina @ Sydney' Busines🐼s Breakfast, Jaishankar said the state of the world creates a very compelling case for India and Australia to do more with each other.
"One of the big goals would really be how do you de-risk the global economy, one by building more reliable and resilient supply chains, which is exactly one of the initiatives that India a♊nd Australia and Japan have embarked on to," said the minister 🧸who is in Australia.
Indi🐓a and Australia are "on-track" in further strengthening their bilateral ties and the India-Aust🎀ralia Economic Cooperation and Trade Agreement (ECTA) will "turbocharge" the relationship.
Signed on April 2, 2022🐽, the India-Australia ECTA came into force on✱ December 29 last year.
The agreement will help boost the b🔥ilateral trade in goods and services to cross USD 70 billion in the next five y𓂃ears, according to economic think tank GTRI.
"The state of the world creates a very compelling case for India and Australia to do more with each other... I think we can see th༺e direction the world is൩ going (in) and it's in transition and it's necessary for countries like India and Australia to work more closely to shape the direction in which the world is going," Jaishankar said.
He said India is targ💦eting 7 per centꦛ economic growth this year.
"But we do expe▨ct it to improve in the next five years. And definitely, we think we would stay in tha𝓀t 7 to 9 per cent range at least for a decade, decade-and-a-half," he said.
A bullish economic scenaꩵrio in India today and a positive investment climate are results of decisions taken during difficult times, Jaishankar said.
"Eco𓃲nomic☂ confidence is being seen in our ability to create, collaborate and manufacture," he said.
T🗹he mi♈nister noted that there has been a very substantial movement of Indian talent to Australia.
"How do we expand in the ability to impart skills and education? We would very much welcome Australian uni♔versities in 🥀India to do that," he said.
"And for us, it's not just about Indian students coming to Australia, it's about India and Australia working together in India to produce more skilled, more competent t🦩alent," he said.
-With PTI Input
