India and Australia are very likely to conclude an early harvest trade deal by the end of this month while Scott Morrison, Prime Minister, Australia is all geared to disclose a Rs 1,500 crore investment package to boost bilateral ties at a virtual summit with Prime Minister Narendra Modi. Australian Barry O’ Farrel, High Commissioner to India confirmed the finalization of the early harvest or ‘phase-one’ of the ambitious free trade agreement.
According to diplomatic sources, Morrison will announce a financial package to strengthen ties with India. Rs 183 crore will be for cooperation in clean technology and critical minerals and Rs 136 crore for boosting ties in the space sector.
At the summit, both nations are expected to make a remarkable announcement on cooperation in rare earth minerals. India is keen to enhance bilateral cooperation with Australia in the rare earth minerals sector. The sources have said the Rs 97 crore will be used for skill development programmes and Rs 152 will be used for incorporating new centres to further enhance bilateral ties.
