Union Minister Piyush Goyal stated that discussions are underway between India and Australia for the construction of 1 million homes. This project, valued at approximately $500 billion (INR 41 trillion), will provide employment to Indian workers through training. India has also proposed financial cooperation from the UAE for this initiative.
Employment in Australia: Union Commerce Minister Piyush Goyal made a significant announcement, revealing that India and Australia are in discussions regarding a project worth approximately $500 billion (INR 41 trillion), which aims to construct 1 million homes. Under this project, Indian workers will be sent to Australia, trained according to local standards, and then employed in construction work. This initiative is expected to address the housing shortage in Australia and create large-scale employment opportunities for Indian laborers. Goyal also mentioned that India has proposed financial cooperation from the UAE for this endeavor.
Indian Workers to Get Employment
Goyal explained that Indian workers will be dispatched to Australia as part of this project. There, they will receive training in accordance with local standards, after which they will undertake the construction of houses. This initiative will generate new employment opportunities for millions of Indians. Additionally, it will provide them with experience working on a global scale.
Severe Housing Shortage in Australia
Australia has been facing a housing crisis for a long time. Due to the imbalance between demand and supply, the prices of houses are continuously rising. This is why the housing issue was a prominent topic in the recent elections. The partnership between India and Australia can prove instrumental in resolving this crisis.
India's Growing Role
This project also reflects India's growing global role. India is now participating not only in domestic infrastructure and housing projects but also on an international level. This is gaining recognition for India's workforce and technical expertise, while also opening doors to overseas employment for Indian workers.
Beneficial for Both Countries
This partnership between India and Australia can be mutually beneficial. While Australia will get relief from its severe housing shortage, thousands of Indian workers will secure stable and respectable employment. Furthermore, India's construction capabilities and skilled workforce will receive international recognition.
Seeking Cooperation from UAE
For this ambitious plan, India has also sought cooperation from the United Arab Emirates. Piyush Goyal stated that he met with the UAE's Minister of Trade, Thani bin Ahmed Al Zeyoudi, and proposed financial cooperation for this project. The UAE has historically been a significant investor in India's real estate sector, and its partnership could strengthen this project.
Part of Global Partnerships
India has been consistently entering into new global agreements in recent years. Goyal informed that a Free Trade Agreement with Oman could be signed in the next two weeks. An agreement with New Zealand is expected within two months. There is also a possibility of an agreement with the European Union by the end of the year. Additionally, countries like Qatar, Peru, and South Africa are also in discussions with India for trade agreements.
