India And Australia Launch Renewable Power Partnership Throughout Modi-Albanese Assembly

Rio de Janeiro: India and Australia on Tuesday formally launched the Renewable Power Partnership geared toward boosting two-way funding within the renewable power sectors as Prime Minister Narendra Modi held talks together with his Australian counterpart Anthony Albanese in Rio de Janeiro.

PM Modi and Anthony Albanese held the 2nd India-Australia Annual Summit on the sidelines of the G20 Summit in Rio de Janeiro throughout which they reiterated their dedication to additional advance the Complete Strategic Partnership in myriad areas like defence & safety, commerce & funding, schooling, abilities, sports activities, house, mobility & people-to-people ties.

The Prime Ministers expressed satisfaction on the rising two-way commerce, enterprise engagements and market entry for items and companies enabled underneath the landmark India-Australia Financial Cooperation and Commerce Settlement (ECTA). They welcomed additional work in direction of an bold, balanced and mutually helpful Complete Financial Cooperation Settlement (CECA), to grasp the complete potential of the bilateral financial relationship

Each leaders welcomed the launch of the Renewable Power Partnership (REP), as agreed throughout the 1st India-Australia annual summit.

“India and Australia have shared ambition to maneuver sooner, work collectively and deploy our complementary capabilities to drive local weather motion,” in response to a joint assertion.

“The Prime Ministers welcomed the launch of the India-Australia Renewable Power Partnership (REP) which would supply the framework for sensible cooperation in precedence areas equivalent to photo voltaic PV, inexperienced hydrogen, power storage, two-way funding in renewable power tasks and allied areas; and upgraded abilities coaching for the renewables workforce of the longer term,” the joint assertion learn.

“Our renewable power partnership is formally launched,” Albanese mentioned, including that this new partnership will increase two-way funding within the renewable power sectors in issues like photo voltaic, inexperienced hydrogen and the renewables workforce. “We’re doing a lot work collectively on driving renewable power transition to fulfill our internet zero targets,” he mentioned.

(With inputs from PTI)