Australia announces Rs 81.2 million grant for Indo-Pacific Ocean Initiative

As India and Australia increase engagement under Indo-Pacific vision, Canberra on Monday announced Rs 81.2 million grant under the Indo-Pacific Oceans Initiative (IPOI). IPOI was proposed by Indian Prime Minister Narendra Modi at the East Asia Summit in November 2019. Australia is co-leading with New Delhi in the marine ecology pillar of the initiative.

Australian High Commissioner Barry O'Farrell while launching the grant said, "This AUD 1.4 million (INR 81.2 million) grant programme is a practical initiative to advance Australia and India’s shared vision for the Indo-Pacific".

"Through this programme, we are seeking new proposals on how Australia, India and other regional partners can advance our shared maritime objectives," he added.

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In June 2020, after the virtual summit of Indian and Australian PMs, foreign ministers of both countries, Marise Payne and S Jaishankar, signed a joint declaration on "Shared Vision for Maritime Cooperation in the Indo-Pacific."

The Australia-India Indo-Pacific Oceans Initiative Partnership forms the core of this "shared vision" of both countries.

To apply for the grant, the company or organization should be located in either India or Australia and have partners in either of the 2 countries. Up to $350,00 is anticipated to be available for allocation in 2020-21. All applications will be assessed on a competitive basis.

During the visit of FrenchForeign Minister Jean-Yves Le Drian last week, France joined the 'Maritime Resources' pillar of the IPOI, something that was welcomed by New Delhi.