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Australian companies to invest Rs18,220 cr in India

Australian companies to invest Rs18,220 cr in India
PTI
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First Published: Wed, Jun 27 2007. 05 01 PM IST
Updated: Wed, Jun 27 2007. 05 01 PM IST
Coimbatore: Australian companies are expected to make investments to the tune of $4.5 billion (Rs18,220 crore) in India in the coming years, a senior Australian diplomat has said.
India has already seen more than $1billion investments from Australian companies, and the new investments would make the Nation the fourth largest investor in India, up from seventh, Consul General and Trade Commissioner of Australia in India Aminur Rahman said on 26 June during a Confederation of Indian Industry session here.
The bilateral trade between the two countries has crossed $10 billion and was expected to double in the next three years.
The Australian Consulate General Office was opened in Chennai five months ago due to increased bilateral trade, especially from South India, and also to give focused attention to the region, Rahman said.
Agriculture sector in India can capitalise on the Australian Post Harvest Technology and highly sophisticated farm management system to bring down the losses, which were 30%-40%.
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.
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First Published: Wed, Jun 27 2007. 05 01 PM IST