India's growth story promises with it a huge appetite for many of Australia's goods and services across several fields and sectors. That is why, strategists have placed a rather high importance in this single major market for Australian business, adding to the already strong and long-standing ties with the subcontinent.
- This potential makes the 2035 India Economic Strategy a required propellant, as the two countries look to forge a strong economic partnership, led at the highest levels of government and business.
- This ambitious plan will transform the economic landscape of Aussie/India, strengthening further the resilience of the Australian economy and help achieve India's aspirations.
In this most recent economic strategy with India, the report mentions: “There is no market over the next 20 years which offers more growth opportunities for Australian business than India. The targets set out in this report would see Australian exports to India grow from $14.9 billion in 2017 to around $45 billion measured in today's dollars, and outward Australian investment to India rise from $10.3 billion to over the $100 billion mark, reflecting a transformational expansion of the relationship. That is the size of the opportunity and the key lesson for Australia of India's scale, the momentum which is already built into its growth trajectory and the underlying complementarity between our two economies.”
The 3 crucial areas of focus, which is termed as ‘The three-pillar strategy’ happens to be on:
- Trade and Economics,
- Geopolitical Convergence, and
- People to People ties.
Tat Capital builds on two of these three pillars – ‘trade & economics’ and ‘people to people ties’ across both the borders, bringing in value addition to the two economies and businesses.
