Time For Australia To Focus On India, ANZ Argues

All we have been hearing back recently is China, China, China, but the analysts at ANZ highlight the "strong growth potential and burgeoning middle-class population" India offers.

Up until now trade between the two countries has not been as developed as it has been with China and other Asian countries, but ANZ says Australia is now awakening to the opportunities the country has to offer.

In 2000 India was Australia’s 20^th largest merchandise trading partner, this has now risen to 12^th and it is currently Australia’s 6^th largest export market.

India’s growth continues to be ahead of trend, the analysts say, and they see "significant room to expand bilateral trade and investment ties."

Obviously India’s demand for resources presents Australia with a major opportunity, but ANZ also points to mining technology as an area that could benefit as well as infrastructure opportunities.

In particular, ANZ sees clear scope in fast tracking growth in tourism and education especially given the opportunities presented by the 1,000+ films per year produced by Bollywood.

By Terry Hughes

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