India Australia economic partnership |
India is growing with its economy to be one of world`s fastest and there is a huge potential for both the countries to grow together. According to a recent report Australia plans to lift India into Australia`s top three export markets by 2035, as well as the third largest destination in Asia for Australian outward investment. Over the next 20 years growing India will need many of Australia`s goods and services including education, agriculture, energy, resources, tourism, sports and healthcare. Now both countries feel that their economic partnership should be made multi faceted and strong. Both countries feel that people-to-people links will be a crucial enabler. The Indian diaspora in Australia, now 700,000 strong or almost 3 percent of Australia`s population, is the fastest growing large diaspora. No doubt, getting the strategy right, will strengthen the resilience of the Australian economy and help realise India`s aspirations.
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