Prabhu invites Australian Superfunds to invest in India

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Sydney, June 26 (IANS) Addressing representatives of about 25 Australian Superfunds, who have huge investible assets, Union Commerce Minister Suresh Prabhu on Tuesday invited them to invest in India.

The Minister informed them about the work being done towards transforming and reforming India and the numerous investment opportunities being generated for investors.

He focussed on structural changes such as introduction of the Goods and Services Tax (GST), shifting of informal sector resources to formal sector through financial inclusion and increased digitisation and the measures being taken towarxds making the processes of doing business in India easier.

Investment opportunities in various infrastructure projects such as industrial corridors, ports, smart cities, airports and railway projects were highlighted by him.

This was followed by further presentations by Invest-India and Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) on details of specific investment projects that Australian Superfunds could invest in.

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In his address Suresh Prabhu mentioned the sectors of knowledge-based agriculture, services, education and manufacturing as the key areas of mutual cooperation between India and Australia.

“He stressed that economic interdependence is the best way to further relationships between the countries, and that India and Australia are natural partners who can build such interdependence and leverage each other’s economic advantages,” a statement said.

He also met Gladys Berejiklian, the Premier of New South Wales — the largest state of Australia.

Prabhu also met leaders of the Indian diaspora in Sydney on Tuesday.

The 15th India-Australia Joint Ministerial Commission (JMC) was held on Monday, in Canberra, Australia.

The meeting was jointly chaired by Suresh Prabhu and Australian Minister for Trade, Tourism and Investment Steven Ciobo.

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The JMC took place after a gap of four years in a very warm and cordial atmosphere.

–IANS

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