Australian PM to visit India, set to strengthen ties in rare earth sector

India is likely to announce significant investments in the rare earth sector in Australia during the visit of Prime Minister Anthony Albanese here beginning WednesdayAlbanese who arrives in Ahmedabad on Wednesday when India celebrates Holi is also expected to participate in the festival of colours watch the IndiaAustralia cricket test match with Prime Minister Narendra Modi before heading for Mumbai to engage with the business community and later to Delhi for bilateral talksKABIL Khanij Bidesh India Limited is set to make a significant investment in the rare earth sector in Australia a move welcomed by the Australian government and Indian government particularly by the business community Australian High Commissioner to India Barry OFarrell told reporters hereAlbanese will be accompanied by Trade and Tourism Minister Don Farrell and Resources Minister Madeleine King and also a delegation of 27 business leaders from sectors ranging from banking to miningThe Australian prime ministers talks with Modi are expected to focus on further strengthening economic and strategic cooperation particularly in the IndoPacific regionOFarrell noted that Prime Minister Modi wants India to become a global hub for advanced technology manufacturing a sector that Australia can assist inAustralia had recently blocked a Chineselinked investment fund Yuxiao Fund from increasing its stake in a rare earths producer in the island nationAlso Read Pakistan seeks Saudi Arabias confirmation for funds to ink IMF dealKABIL is a joint venture of three stateowned companies National Aluminium Company Limited Hindustan Copper Limited and Mineral Exploration Corporation Limited and is exploring opportunities for investment in lithium mines in Argentina and AustraliaIndia is one of the worlds fastest growing energy consumers and an emerging technology superpower The scale of Indias energy transition presents unparalleled prospects not just for Australian businesses but for world business across renewable exports technology and clean energy supply chains OFarrell saidThere is no doubt we are seen by India as a reliable trusted partner which is exactly the same way we see India he saidThe IndiaAustralia Economic Cooperation and Trade Agreement ECTA came into force on December 29 2022 Under the pact Australia was to offer zeroduty access to India for about 964 per cent of exports by value from the day the agreement was enforcedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever