Australian Prime Minister Malcolm Turnbull has said that Australia is looking to cement India as a key economic power as he announced the commissioning of an economic strategy to help New Delhi and Canberra grow together.
Turnbull, while addressing business leaders here on Tuesday, said that the strategy would help in identifying ways to boost economic ties.
Despite conceding chances of an early breakthrough on a stalled bilateral trade deal, Turnbull urged business heads to work closely for the benefit of the two countries.
After meeting Prime Minister Narendra Modi in New Delhi on Monday, the Australian leader said that the two had agreed to make a fresh push on a proposed bilateral Comprehensive Economic Cooperation Agreement (CECA).
Turnbull is in the company of other foreign leaders, including Britain's Theresa May, who have found Prime Minister Modi a tough interlocutor on trade.
Turnbull also made it clear that his priority was the broader Regional Comprehensive Economic Partnership (RCEP).
India and Australia signed six Memoranda of Understanding (MoUs) in different fields including combating international terrorism, civil aviation, security, sports, health and medicine and satellite navigation.