Australia sets goal to make India among top 3 trading partners


PTI | Kolkata | Updated: 13-03-2020 21:58 IST | Created: 13-03-2020 20:45 IST
Australia sets goal to make India among top 3 trading partners
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  • India

Australian consul general in Kolkata Andrew Ford on Friday said that the country has put forward a goal of making India one of its top three trading partners by 2035. He said that India has also commissioned an Australian Economic Strategy which will be released soon.

"The India Economic Strategy of the Australian government has put forward a goal to see the country among the top three trading partners for Australia by 2035," he said at the MCCI here. He said that India has also commissioned an Australian Economic Strategy which will be released soon.

Ford said that the India Economic Strategy placed the country at the forefront of economic relations between the two nations. "India is already Australia's fifth largest trading partner with two-way trade of over USD 30 billion in 2018-19," he said.

The two-way trade has grown 15 per cent per year over the past five years, Ford said adding that his country's key exports to India are coal, education, gas, gold, copper and tourism services. He said India's key exports to Australia are tourism services, refined petroleum, business services and railway vehicles.

"We believe that there is enormous potential to grow trade and investment between the two countries and India is an attractive market for Australia," he said. He said Australia can effectively help India in developing its mining sector and also contribute to India's food security.

Ford stated that 10 Indian states identified as the most prospective for Australia's engagement are Maharashtra, Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, Telengana, West Bengal, Punjab, UP and Delhi. Regarding West Bengal, he said sectoral opportunities which lie in the state are resources and energy..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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