Australia sets goal to make India among top 3 trading partners
He said that India has also commissioned an AustralianEconomic Strategy which will be released soon.
"The India Economic Strategy of the Australiangovernment has put forward a goal to see the country among thetop three trading partners for Australia by 2035," he said atthe MCCI here.
He said that India has also commissioned an AustralianEconomic Strategy which will be released soon.
Ford said that the India Economic Strategy placed thecountry at the forefront of economic relations between the twonations.
"India is already Australia's fifth largest tradingpartner 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 overthe past five years, Ford said adding that his country's keyexports to India are coal, education, gas, gold, copper andtourism services.
He said India's key exports to Australia are tourismservices, refined petroleum, business services and railwayvehicles.
"We believe that there is enormous potential to growtrade and investment between the two countries and India is anattractive market for Australia," he said.
He said Australia can effectively help India indeveloping its mining sector and also contribute to India'sfood security.
Ford stated that 10 Indian states identified as themost prospective for Australia's engagement are Maharashtra,Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, Telengana,West Bengal, Punjab, UP and Delhi.