Australia-India relations: trends and the prospects for a comprehensive economic relationship

Author name: 
Ashok Sharma

Today India is the fastest growing major economy in the world and offers immense opportunities for business and economic partnership. Many countries are reformulating their economic and foreign policies to engage India. Australia too has been taking steps to establish a comprehensive strategic partnership with India. One of the most standout components of this emerging Australia-India strategic partnership is the economic relationship which is noticeable mainly by the Australian resources and energy-driven export to India. However, the synergies and complementarities in other sectors provide huge opportunities for expansion and have yet to form a considerable chunk of Australia-India economic relationship. Given the political will shown at the top level from both the governments for a Comprehensive Economic Co-operation Agreement (CECA), it is imperative to study the trends and prospects for the investment and economic relationship between Australia and India.BETWEEN Australia-INDIA with India. This paper examines the sectors which need to be synergised for a comprehensive Australia-India economic relationship, namely the resources and energy, agriculture and food, education and tourism, health and medical, manufacturing and infrastructure sectors.

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