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South Australia says trade with India to play 'significant role in its economic growth'

Canberra, Mon, 23 Jan 2012 ANI

Canberra, Jan 23(ANI): South Australia should devise a strategy to take advantage of emerging trade opportunities with India, the government has said.


"India is expected to become the world's third-largest economy within 20 years and is going to be a very significant part of our economic growth in the long term," quoted South Australia Premier Jay Weatherill, as saying.


"It's important that South Australia has a clear strategy to take advantage of emerging opportunities that exist in India and that's what this consultation with business and industry will develop," he added.


South Australian Manufacturing Minister Tom Koutsantonis said Indian investors, business operators, skilled migrants, students and tourists were also exploring opportunities in South Australia.


"Australia and India share many common bonds, including a Commonwealth background, a common business language and a passion for cricket," Koutsantonis said.


"The State Government wants to build on these common interests to maximise the potential investment Indian companies can provide in South Australia," he added.


The government said its strategy to augment trade ties with India would align both business and government activity to benefit both sides. (ANI)


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