23rd January 2021
India is not just an alternate market – India is THE market to vigorously pursue
The article “India trade pitch a big ask” by Glenda Korporaal in the Australian newspaper edition dated 22 January
is disappointing and demonstrates a surprising lack of understanding of the growing trade and investment
relationship between Australia and India. This was highlighted in these comments from the Hon Simon
Birmingham, Minister for Trade, Tourism, and Investment: “No single market offers more growth opportunity for
Australian business than India out to 2035”.
Secondly, India like Australia and other countries is combatting such anticipated contraction by taking proactive
economic measures and simultaneously managing the challenges of COVID-19 with a population of over 1.4 billon
Thirdly, Indian economy is rebounding reaching 50,000 points exactly at the same time of your article, which is the highest ever in India’s history and speaks for itself. The China comparison is a red herring. There is a rock-solid relationship of trust between Australia and India that is echoed by Prime Ministers Narendra Modi and Scott
Morrison. There is a long history of shared western culture, speaking English and a similar judicial system – not to
mention curry, cricket and the Commonwealth. There could not be a starker contrast with China. This is
compounded India’s youthful population contrasting with China’s non-English speaking aging population. This
reality is now understood by the smart business groups like Business Council of Australia, Export Council of
Australia, Australian Industry Group, and received bipartisan support.
The virtual meeting between the Australian Prime Minister Scott Morrison and the Indian Prime Minister
Narendra Modi and the nine comprehensive agreements between the two countries, the newly appointed
Australian Trade Minister Dan Tehan efforts to fast tracking Free Trade Agreement with India speak volumes of
Australia’s confidence and huge trust in India’s economic capabilities. Australia India Business Council through
established Industry Chapters and a pragmatic approach is significantly progressing achieving greater business to
business collaborations and sees itself as a significant player in the growing Australia India economic partnership.
Jim Varghese AM – National Chair – Australia India Business Council Ltd
Mobile: 0474 739479
Download Copy of the article here.
(Article supplied by a subscriber of The Australian).