Australian companies plan $4.5 billion investments in India
27 Jun 2007
Mumbai: Australian investors have lined up investments to the tune of $4.5 billion in India in the coming years, Aminur Rahman, consul general and trade commissioner of Australia in India, said.
Australian companies have already invested over $1 billion into India and the new investments would make the country the fourth largest investor in India , up from seventh, the diplomat said during an interactive session organised by CII.
Bilateral trade between two countries has crossed $10 billion and was expected to double in the next three years. Australia opened its consulate general office in Chennai five months ago, as bilateral trade increased, especially from South India, and also to give a focussed attention to the region, Rahman said.
The agriculture sector in India can capitalises on the Australian post harvest technology and highly sophisticated farm management system to bring down the losses, which were 30 to 40 per cent.
By
reducing the post-harvest losses, India can become self-sufficient
in the sector, Rahman said, adding Australia was recognised
as having one of the most sophisticated agri business
in the world because of its strict quarantine and inspection
measures.
