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This is an archive article published on November 23, 2018

Australian PM unveils blueprint to reboot trade relations

In his keynote speech to The Australian Financial Review India Business Summit, Morrison outlined plans to develop India into one of Australia's top trading partners, leveraging on a focused attention to key sectors starting with education, resources, tourism and agriculture

Australian Prime Minister Scott Morrison. (AP) Australian Prime Minister Scott Morrison. (AP)
Australian Prime Minister Scott Morrison has used a meeting with visiting President Ram Nath Kovind to endorse a blueprint that aims to reboot trade and investment relations between the two countries.
In his keynote speech to The Australian Financial Review India Business Summit, Morrison outlined plans to develop India into one of Australia’s top trading partners, leveraging on a focused attention to key sectors starting with education, resources, tourism and agriculture.
The blueprint has been drawn up from a report by former Australian diplomat Peter Varghese on how Australia can ramp up economic and security engagements with India. The report sets targets for Australian exports and outward investment to India, to triple and increase tenfold, respectively, by 2035 but it was released in a low key manner four months ago. Canberra has now thrown its weight behind the report by officially endorsing it and put it into the implementation stage.
India’s and Australia’s merchandise trade stood at A$ 20,856 million (approximately Rs 1.08 lakh crore) during 2017, with Australia being the ninth principal import source of India. The biggest component of merchandise trade during the year has been coal – worth A$9,181 million (approximately Rs 47,400 crore).
On the other hand, Australia is 22nd principal export destination for India, with most of it coming from refined petroleum (A$1,554 million or about Rs 8,020 crore).

Anil Sasi is the National Business Editor at The Indian Express, where he steers the newspaper’s coverage of the Indian economy, corporate affairs, and financial policy. As a senior editor, he plays a pivotal role in shaping the narrative around India's business landscape. Professional Experience Sasi brings extensive experience from some of India’s most respected financial dailies. Prior to his leadership role at The Indian Express, he worked with: The Hindu Business Line Business Standard His career trajectory across these premier publications demonstrates a consistent track record of rigorous financial reporting and editorial oversight. Expertise & Focus With a deep understanding of market dynamics and policy interventions, Sasi writes authoritatively on: Macroeconomics: Analysis of fiscal policy, budgets, and economic trends. Corporate Affairs: In-depth coverage of India's major industries and corporate governance. Business Policy: The intersection of government regulation and private enterprise. Education Anil Sasi is an alumnus of the prestigious Delhi University, providing a strong academic foundation to his journalistic work. Find all stories by Anil Sasi here ... Read More

 

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