PM Modi wants early conclusion of CECA
Prime Minister Shri Narendra Modi has invited Australian investors to take advantage of the opportunities for long-term investments in India, and welcomed a growing presence of Australian universities in India, highlighting that deeper collaboration in higher education, research, innovation and skill development would not only make talent in both countries future ready, but also help them to tap into global opportunities.
Addressing the CEO Forum in Melbourne on 9 July, Prime Minister Modi expressed satisfaction at the growth of trade and investment ties based on the Economic Cooperation and Trade Agreement (ECTA) of 2022, and called for early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA), so as to propel business ties to a new level.
He urged the business leaders to leverage complementary strengths on both sides and create global solutions, especially in the fields of rare earths, lithium, batteries, electronics, EVs, semiconductors, AI and defence supply chains.
PM Modi also suggested that for bilateral business ties to grow to the next level, it was important that Indian states and Australian provinces forge dynamic economic partnerships based on their core competencies.
Leading Indian and Australian CEOs and business leaders, representatives of major Australian superannuation funds and institutional investors, and Vice-Chancellors of leading Australian universities participated in the two events.
Separately, the Prime Minister’s Office issued at list of outcomes during PM Modi visit to Australia 8-10 July.
Joint Declaration on Defense and Security Cooperation (JDDSC) – Renews the existing Joint Declaration on Security (2009). It identifies interoperability of forces, capacity building, maritime domain, defense industrial collaboration, cyber security and technology, counter terrorism, HADR, and unified approach in UNCLOS, ASEAN, PIF, IORA, as areas of cooperation.
Maritime Security Collaboration Roadmap (MSCR) – Enhances maritime security cooperation by promoting information sharing, and capability development, and operational coordination.
India-Australia Joint Statement on Energy Security – Reaffirms the commitment of both countries to energy security in the face of geopolitical tensions.
Finalisation of Administrative Arrangement of the India-Australia Civil Nuclear Agreementn – Operationalises the India-Australia Civil Nuclear Agreement signed in 2014, and enables supply of uranium from Australia to India.
Australia-India Partnership for Cyber, Critical Technologies, Supply Chains (PACTS) – Builds on the 2020 Framework Arrangement on Cyber and Cyber Enabled Critical Technology Cooperation. Aims to support national and regional security, promote collaboration to make critical supply chains more resilient, and strengthen collaboration in critical technologies, cyber security, and digital resilience.
MoU between Indian Coast Guard (ICG) and Maritime Border Command (MBC) of Australia – Establishes cooperation in the field of Maritime Law Enforcement, domain awareness, and maritime border protection between ICG and MBC.
Australian invite for an Indian military instructor in Australian Defense College for 2028-29 Announces the deployment of an Indian military instructor in Australian Defense College in 2028-29.
MoU between Ministry of Skill Development and Entrepreneurship (MSDE),and Technical and Further Education (TAFE), Government of Western Australia to set up a Centre of Excellence in Mining and Mining Equipment, Technology and Services (METS
Sets up a Centre of Excellence in Mining Equipment, Technology and Services at National Skill Training Institute (NSTI), Bhubaneswar to develop a Centre of academic excellence in sub-domains of mining operations, mine safety, mineral processing, mine machinery, etc. It will enable exchange of students/trainees between National Centre for Excellence and TAFE, Western Australia.
Handing over Letter of Intent (LoI) to Flinders’ University for setting up its campus in India (Bengaluru) – Enables setting up of the campus of Flinders University in Bengaluru.
Signing of Letter of Intent (LoI) between National Council for Vocational Education and Training (NCVET) and Australian Skills Quality Authority (ASQA) – Acknowledges the importance of quality assurance in Technical and Vocational Education and Training (TVET). It will strengthen regulatory frameworks in vocational training systems, co-development and alignment of occupational standards in priority sectors, and enable capacity building of officials, staff exchanges, joint workshops/research activities.
Operationalisation the Rooftop Solar Training Academy – Established and operationalised in the Pandit Deendayal Energy University, Gandhinagar in collaboration by Department of Climate Change, Environment and Water (DCEEW), India’s Sector Skills Council for Green Jobs (SSCGJ), ReNEW. Aims to train 2000 women and youth as solar technicians/installers/helpers. Supports the PM Surya Ghar Yojana launched by Hon PM in January 2024, and India’s green energy journey.
MoU under Australia-Canada-India Technology and Innovation (ACITI) Partnership – Aims to advance trilateral cooperation in emerging technologies and innovation, under the Australia–Canada–India Technology and Innovation (ACITI) Partnership.
MoU between GeoScience Australia (GA) and Geological Survey of India (GSI) – Builds on the MoU on Scientific and Technical Cooperation signed in 2015. Aimed at adoption of advanced exploration methodologies, capacity building and skill development, and enable technological upgradation and modernization of GSI infrastructure.
Traditional Knowledge Digital Library access agreement between Council of Scientific & Industrial Research (CSIR) and IP Australia – Provides access of the Traditional Knowledge Digital Library (TKDL) database to IP Australia.
MoU between Council of Scientific and Industrial Research (CSIR) and University of Melbourne – Establishes linkages between both institutions for future collaboration including collaborative research programs towards drug target identification, trainee programs, and faculty exchange Programs.
Handing over of Letter of Approval to Victoria University – Permits the Victoria University to set up and operate its campus in Gurugram. Fiinews.com
