Strengthening Ties: India and Australia

0
204

The President of India, Ram Nath Kovind addressed the people in Sydney on 22nd November, 2018 at the India Business Summit. The summit was held to discuss the social and economic growth in India and to invite Australian investors to the country. Australian Prime Minister, Scott Morrison was also present at the summit. Kovind emphasized that the growing infrastructure in the country including highways, reforms like GST and the increased ease of doing business; leave India with a great potential for investments. “Australia and India have too much at stake in each other to not up their game,” he said. “The Indian market offers the Australian investors a huge consumer base and the prospects of considerable returns.” He said that the two countries can collaborate and benefit each other in areas of finance, logistics, industrial design, biotech, capital markets, farming, food and space technology. He also addressed the Indian Diaspora and their contribution to the Australian economy & invited them to be part of India’s transformational journey. India-Australia trade was valued at about USD 21 billion in 2018. India and Australia signed five agreements to boost investments and enhance cooperation in key sectors like disability, agricultural research and education.

Leave a Reply