Adani Coal Coming To India With Zero Tariffs, As Ex-Australian PM Abbott Is Optimistic About India-Australian Ties.

Former Australian Prime Minister Tony Abbott has dismissed claims of fraud against the Adani company by US-based short seller Hindenburg Research. He said that Adani coal will enter India with no tariffs. Because of that agreement, duties on Australian coal were removed. Energy markets are more than coal. Adani, to his credit, is both a renewable energy and a fossil fuel energy magnet. It’s crucial to have both in the mix these days. And surely, if India seeks energy security, Australia can provide, said the former Australian Prime Minister, who also worked on the UK government’s Board of Trade since 2020.

He praised the Adani firm for generating employment in Australia through those investments and drew attention to the Narendra Modi government’s efforts to provide 24×7 power to millions of Indians through the use of Australian coal that Adani bought without bearing taxes.

As someone who strongly backed Adani mining in central Queensland, he is overjoyed that Adani coal is now moving to India to aid with electrification because one can’t live a modern life without 24×7 energy. As a part of the pact signed by the Australian government late last year, Australian coal from Adani mining is now helping to deliver 24×7 power to millions of people in India.

The Carmichael mining and train project, located around 300 kilometers west of the Queensland coast, is Adani Mining’s flagship project. It is a thermal coal mining and train project that carries coal from the Galilee Basin to Asian countries like India, creating thousands of jobs in the process. Adani’s Carmichael coal project has faced years of opposition due to concerns that it will seriously rise global warming and harm the Great Barrier Reef. The Carmichael coal mine project, according to Abbott, is yet to achieve as per the plan, but the coalfield has a healthy mining life.

Words in favor of Adani.

He stated that the regulators will inspect the situation and that he is appreciative of Adani’s trust in Australia. In defense of Adani, he stated that making claims is simple. Just because something has been alleged does not mean it is true. His principle of common law concepts is that you are innocent unless proven guilty. 

Therefore, if there is something in it, he is certain that the regulators will explore and let the cards fall where they may. Yet, he is appreciative of Adani’s trust in Australia, indicating Adani’s investments are worth billions of dollars in his country. The Supreme Court has appointed a six-member panel constituted of subject matter specialists to scrutinize Hindenburg’s accusations. The Supreme Court further directed the Securities and Exchange Board of India (SEBI) to complete its search within a pair of months.

Another coal project of an Indian player in Australia.

Abbott cited the coal mine being constructed by Jindal Steel and Power (JSPL), saying he is “optimistic” that its owner, Naveen Jindal, has invested in Australia. Mr. Naveen Jindal, another large investor, also owns a mine. He owns a coking coal mine rather than a thermal coal mine near Wollongong. He has not invested much like Adani, but he is experiencing ups and downs, and Mr. Abbott is glad that he is also continuing.

The bilateral ties between India and Australia.

Prime Minister Albanese will be in India from March 8 to 11 for the Australia-India Annual Leaders’ Conference in New Delhi. Trade and Tourism Minister Don Farrell and Resources Minister Madeleine King will join the Prime Minister.

Days before Australia’s new Prime Minister Anthony Albanese is to embark on India, Abbott stated that his regime is equally “serious” about its ties with India as the earlier Scott Morrison government was.

When it comes to critical ties with India, Australia has complete bipartisanship, Abbott said, adding that the recent high-level visits between the dual countries display that the current government takes India equally like the earlier government, which he believes is critical.

Previous to this, Australia’s Foreign Minister, Penny Wong, visited India for the just completed G20 and Quad Foreign Ministers’ Meetings. Later this year, Australia will host the Quad Leaders’ Conference, for which Prime Minister Narendra Modi will travel there. Foreign Affairs Minister S Jaishankar visited Australia three times last year.

In terms of India-Australia defense ties, Abbott stated that both countries are strengthening bilateral and multilateral military drills. This year, India has been asked to take part in the Talisman Sabre Exercise, which is scheduled for the middle of 2023.

edited and proofread by nikita sharma