| India is scouting investments in Australian critical mineral mines to power its booming electric vehicles industry and reduce its dependence on China.
“It already has the biggest two- and three-wheel EV industry in the world, and it wants to challenge China in relation to battery storage. Australia, for its part, gets to lift the sale of new resources.“China’s nascent but growing renewables sector also requires critical minerals as does its powerhouse tech industry, so we are pitching to some of their big markets,” Mr O’Farrell said.
With 1 million Indians turning 18 every month, a shortfall in jobs is the most likely factor that could derail the country’s economic expansion. In December, the World Trade Organisation ruled in Australia’s favour in a long-running dispute over India’s sugar subsidies. Australia, along with the Brazilian and Guatemalan governments, had claimed these distorted the global sugar price.
“There is no appetite left here for China,” Mr Goyal said. China has promised investment, but rather than the roads and infrastructure India wants, China has concentrated on startups and technology. “They promise a lot but do not deliver.”
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