LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Aus govt releases report to boost economic ties with India

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Jul 13, 2018
08:06 am
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

The Australian government has released an India Economic strategy report recommending to lift New Delhi into its top three export markets and make it the third largest destination in Asia for its outward investment.

The report titled 'An India Economic Strategy to 2035' -- authored by former Australian high commissioner to India Peter Varghese -- was welcomed by Australian Prime Minister Malcolm Turnbull yesterday.

The report said it would see Australian exports to India grow from AUD 14.9 billion in 2017 to around AUD 45 billion in the next 20 year, and outward Australian investment to India rise from AUD 10.3 billion to over the AUD 100-billion mark, reflecting a transformational expansion of the relationship.

It noted that the opportunities however would not fall into its lap and that the government would require a sharper national focus on India, an unambiguous commitment by Australian business and a deeper understanding by both government and business of the magnitude of what is unfolding in an Indian market place which will only get more crowded.

''They will also require an approach to the investment relationship with India that markedly differs from the trajectory of Australian investment in most other Asian markets,'' the report said.

The foundations for an enhanced economic partnership with India are strong, underpinned by people-to-people ties and shared values. The report has identified ten sectors where Australia's competitive advantages match India's needs, and ten states in India where Australia should focus efforts.

Minister for Trade, Tourism and Investment Steven Ciobo said the government commissioned this report to look beyond the immediate horizon and provide a roadmap for unlocking the opportunities that will help India and Australia grow together.

"It is about cementing India as a priority economic partner," Ciobo said, adding that Australia must continue to seek out new markets and opportunity.

The report said no single market over the next 20 years would offer more growth opportunities for Australia than India. By 2035, India will overtake China as the world's most-populous country. It is poised to become the third largest economy, after China and the United States, he added.

The trade minister said that the Government will consider its response to the strategy report following consultation with Australian and Indian stakeholders.

Welcoming the strategy paper, Melbourne-based think tank Australia India Institute (AII) director Craig Jeffrey said the document outlines a confident vision for the future of economic relations between Australia and India. At the same time, it warns against complacency, urging us all to do more in pursuit of stronger ties between our two nations.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Trump 'gutted' immigration system, says Homeland Security Secretary

Samsung Galaxy A12 Review: Smartphone ticks the right boxes in budget segment

MTAR Technologies IPO date: Issue opens on March 3, 2021 | Key competitive strengths, risks and more - EXPLAINED

Gold Price Today 2-03-2021 – MCX Gold cheaper by Rs 400 on Tuesday morning, Silver expensive by Rs 69; BUY or SELL?

Alec, Hilaria Baldwin welcome sixth child

LIVE: Gujarat District Panchayat Elections Results 2021: Check latest local body polls seats, trends, news updates here

LIVE: Gujarat Local Body Elections Results 2021: BJP wins 2085 seats, Congress gets 602 - Check latest trends, seats details, news updates here

ICSE, ISC exams 2021: CISCE releases Class 10, Class 12 date sheet on cisce.org — check exam dates and other details here

PPF Calculator: Your Public Provident Fund account can make you crorepati! Follow this earn while you sleep strategy

7th Pay Commission Latest News: Grab this central government job with massive salary, vacancy with CBI—check details

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved