A five member delegation of Australian Superfunds
called on Commerce & Industry and Civil Aviation Minister Suresh Prabhu
here 18 September 2018.
During the meeting, the Minister
highlighted the potential of Indian growth story and assured them of
stability and certainty of business in long term. He said India provides abundant
opportunities for Australian Superfunds and our priority is to engage them to
explore investing in India, says a release.
Australia’s superannuation funds valued at 2.6
trillion Australian dollar is one of the world’s largest in terms of volume.
The funds have exposure including in various international markets. However,
their exposure to Indian markets is still very limited, despite continued
greater than average market returns in India. India has emerged as the fastest
growing major economy in the world, with growth rates averaging over 7%
Australia- India bilateral
investment cooperation has received a renewed focus from the highest
authorities in both the countries. Prime Minister Narendra Modi during his
meeting with his Australian counterpart, on the side-lines of Commonwealth
Head of Governments Meeting in April 2018, had discussed the opportunities
for Australian Superfunds to invest in the Indian economy.
Australians have also commissioned and launched recently an India Economic Strategy
which recommends that Australian companies should strive by 2035 to lift India
into their top three export markets and to bring India into the inner circle of
Australia’s strategic partnerships, among others.