Albanese: Australia and India will boost their cooperation in renewables and defence
Australia and India will work together to increase investment in renewable energies, such as solar manufacturing, batteries, and mineral processing. This was the announcement made by Prime Minister Anthony Albanese during a G20 meeting on the sidelines.
Albanese, the Australian Minister for Defence and Maritime Security, said that Australia and India would also like to increase their defence and maritime cooperation. He made this statement during a Tuesday meeting in Rio de Janeiro with India's PM Narendra Modi.
These two countries are part of the Quad along with Japan and the United States. The Quad was formed to counterbalance China's growing military and economic power in the Indo-Pacific region.
Albanese stated that Australia is the world's largest rooftop solar producer. Projects with India include the training of a rooftop solar workforce, as India strives to increase household usage of renewables.
According to an official transcript, he stated that "our new partnership will boost investment in two-way renewable energy projects such as solar PV manufacturing and battery and mineral processing. Green hydrogen and green iron."
He added that "Australia's relationship is India is vital for regional security and stability."
Modi told the transcript that they are exploring new areas of cooperation in defence industry, critical mineral, renewable energy and shipbuilding, as well as space.
In a report released on Wednesday, the Australian Strategic Policy Institute said that Quad Plus countries, such as South Korea, needed to work together more in the processing of critical minerals, including harmonizing industrial policies and building up stockpiles to combat "China's manipulating the global market for critical minerals".
Australia is rich in copper, vanadium and cobalt, which are used to make electric vehicle batteries.
It said that China was a major investor and the Albanese Government faced a challenge to diversify investment in order to avoid a more concentrated supply chain. (Reporting and editing by Kirsty Neeham in Sydney.
(source: Reuters)
