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

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  • Ashok Sharma

Abstract

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.

Suggested Citation

  • Ashok Sharma, 2016. "Australia-India relations: trends and the prospects for a comprehensive economic relationship," ASARC Working Papers 2016-02, The Australian National University, Australia South Asia Research Centre.
  • Handle: RePEc:pas:asarcc:2016-02
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    File URL: https://acde.crawford.anu.edu.au/sites/default/files/publication/acde_crawford_anu_edu_au/2016-09/asarc_wp_2016-02_sharma.pdf
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    More about this item

    Keywords

    Australia-India; economic relation; energy; strategic partnership; Indo-Pacific region; free trade agreement;

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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