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Statement from Australia India Business Council chair Jim Varghese – embargo 9am 5th March 2019

The vilification of the Adani project has to end, and a political truce must be found.

There needs to be rational consideration and support for Adani’s $3.6 billion in Australia’s coal industry through the Carmichael project.

I urge all Australians to give Adani a fair go.

The Adani coal project is a bell weather project for more investment from India. If it does not go ahead because of political considerations, there will very likely be implications for trade between the two nations.

The Australia India Business Council is committed to increasing the trade and investment between Australia and India. India is now the world’s fifth largest economy. A recent report found that by 2035 Australia exports to India would grow from $14.9 billion in 2017 to $45 billion. Outward investment from Australia would also rise from $10.3 billion to more than $100 billion.

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