America Called India a 'Dead Economy'. Australia Denied This, Describing India as a Country Full of Opportunities. Don Farrell Conveyed a Message to Increase Investment and Bilateral Trade. India-Australia Relations Will Strengthen.
Dead Economy: US President Donald Trump recently criticized India by calling it a 'Dead Economy'. Immediately after this statement, Australian Trade Minister Don Farrell responded clearly in favor of India. He said that Australia considers India a country "full of fantastic opportunities" and is committed to strengthening trade relations between the two countries.
Australia's Stand: Belief in Free and Fair Trade
Don Farrell stated that Australia has always been a proponent of free and fair trade. Whether tariffs are imposed on India or Australia, we do not support any form of protectionism. Farrell said that the best way to prosperity is open, fair, and free trade. He emphasized that protectionism is not beneficial for any country.
Australia's Support Amidst Tensions in India-US Trade Relations
Farrell also clarified that Australia desires deep economic engagement with India. He said that Australia is keen to increase investment in India. Promoting bilateral trade and investment with a prosperous democracy like India is important for us. He stated that India has immense opportunities, and Australia wishes to share in these opportunities.
Effort to Strengthen Supply Chain Between Australia and India
The Trade Minister also mentioned that Australia possesses the world's largest or second-largest reserves of critical minerals and rare earth elements. These minerals will be required to achieve the Net Zero emissions target. Australia wishes to share these resources and benefits with the people of India. Furthermore, plans are also being made to improve the supply chain between the two countries.
Trump's Comment and Global Reaction
Don Farrell's statement came at a time when Trump had called India a "Dead Economy." His remark had become a subject of controversy in trade and global politics. The Australian minister not only refuted this but also described India as a "country of emerging opportunities" and conveyed a message of promoting bilateral relations.
