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India is holding detailed discussions with Australia to construct one million homes, a project estimated at USD 500 billion. The proposal includes sending Indian workers to Australia, where they would be trained to meet local construction standards. To support financing, India has also approached the UAE for partnership. The initiative comes as Australia faces housing supply shortages and rising prices, which were key issues in its recent elections. Alongside this, India is advancing multiple trade deals with countries including Oman, New Zealand, the European Union, Qatar, Chile, Peru, and South Africa, while addressing US tariff challenges.
India has entered into active negotiations with Australia to construct one million homes in the country. The initiative, valued at nearly USD 500 billion, is being positioned as a significant opportunity for both nations. The plan involves Indian workers being allowed to travel to Australia, undergo training in skills required for construction, and then participate in building homes that meet Australian standards. While the overall framework has been discussed, details such as the exact locations of construction, the level of Australia's investment, and the extent of India's involvement are yet to be made public. Advertisement
The push comes at a time when Australia is experiencing a visible mismatch between housing demand and supply. Rising property prices have been linked to this shortage, and housing policy was among the major issues debated during the country's recent national elections.
On the financial side, India has approached the UAE for support. During meetings with a UAE trade delegation led by Trade Minister Thani bin Ahmed Al Zeyoudi, India's Commerce and Industry Minister Piyush Goyal proposed a partnership to help fund the large-scale project. The UAE is already a significant investor in Indian real estate, and discussions were aimed at extending this investment relationship into the international project.
The Minister noted that opportunities of this scale should not be missed and highlighted that many countries are showing interest in working with India. He stressed that it is important to seize such openings rather than let them pass by.
In parallel, trade negotiations remain an important part of India's strategy. Talks on a free trade agreement with Australia are ongoing. Beyond that, Goyal said India is aiming to conclude a balanced agreement with Oman in the coming weeks, followed by one with New Zealand within a couple of months. Discussions with the European Union, representing a USD 17 trillion economy, are also advancing, with meetings scheduled in Brussels. The EU's trade representatives are expected in India soon as part of preparations for a ministerial-level dialogue.
India is also planning to finalise terms of reference for an agreement with Qatar during Goyal's upcoming visit, while countries such as Chile and Peru have expressed eagerness to fast-track trade engagement. South Africa too has shown interest in a trade pact, and progress is being made with certain Eastern European nations.
At the same time, India is addressing challenges from the US, where new tariffs of 50 per cent have been imposed. Goyal confirmed that India is engaged in dialogue with Washington to resolve these issues but maintained that the country will continue to expand exports to other markets. He expressed confidence that India's exports would surpass USD 825 billion this financial year despite these hurdles.
Source PTI
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