Talks to foster ties with India on trade

Foreign Minister Marise Payne hopes a trip to India this week will deepen economic ties with the country.

Australian Foreign Minister Marise Payne. Picture: AAP

Foreign Minister Marise Payne will use a trip to India this week to deepen ties with the world’s fastest-growing large economy, as Australia looks to reduce trade dependence on China and counter Beijing’s growing regional power.

Senator Payne will land in New Delhi tomorrow where she will meet Prime Minister Narendra Modi and senior government ministers at the nation’s annual Raisina Dialogue.

The trip follows a visit to Australia by Indian President Ram Nath Kovind in November, and a new economic strategy by ­former Department of Foreign Affairs and Trade secretary Peter Varghese setting out a raft of measures to enhance relations with the South Asian powerhouse.

Senator Payne said her ­address to the forum would detail how Australia and India could work together to “deliver a stable and prosperous Indo-­Pacific”. It’s understood the speech will argue the importance of the stalled Quadrilateral Sec­urity Dialogue — a grouping that brings together the US, Australia, India and Japan — to maintaining regional stability.

Senator Payne will throw her support behind the 21-nation ­Indian Ocean Rim Association as a vehicle for promoting ­regional economic development. The Varghese report, described by Scott Morrison as a “road map for our economic ­future with India”, said Australia must align with countries that supported the rules-based global order to avoid the “law of the ­jungle” prevailing.

It said balancing China was not the “sole basis” for a strategic partnership between Australia and India, but noted the weakening of US dominance in the ­region and the need for “balancing mechanisms that can help ensure that regional stability holds”.

Senator Payne said she would use her first trip to India as Foreign Minister to “reinforce Australia’s commitment to strengthening our partnership across a range of spheres”.