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Business News/ Economy / Finance Minister Sitharaman invites Australian investment in NIP
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Finance Minister Sitharaman invites Australian investment in NIP

Abbott complimented India for undertaking comprehensive and sustained reforms programme and said that India has continued to demonstrate robust growth despite the disruptive impact of the pandemic

Union Finance Minister Nirmala SitharamanPremium
Union Finance Minister Nirmala Sitharaman

Finance minister Nirmala Sitharaman on Thursday invited Australian investors to explore avenues for investment in the ongoing National Infrastructure Pipeline projects worth over 100 trillion.

Sitharaman on Thursday met Tony Abbott, Special Envoy of Australian Prime Minister and held discussions on various issues of mutual interest.

“Sitharaman further highlighted those recent economic reforms and easing of FDI norms in India provide opportunities for Australian investors. The Australian Superannuation funds have invested in National Investment & Infrastructure Fund (NIIF) and have been invited to look at various opportunities to invest in Indian infrastructure. The Finance Minister offered that a team from Australia could engage with the Indian side to better explore the avenues for investment in National Infrastructure Pipeline projects," finance ministry said in a statement.

Abbott complimented India for undertaking comprehensive and sustained reforms programme and said that India has continued to demonstrate robust growth despite the disruptive impact of the pandemic. Abbott emphasised that Australia views India as a long-standing, valued and trusted partner.

Sitharaman appreciated the credible progress observed in economic and commercial relations between the two countries over the past decade including elevation of the India-Australia bilateral relationship into a Comprehensive Strategic Partnership. Finance Minister also emphasised that the complementarities between both countries provide immense scope for augmenting the economic relationships.

“Australia is an important bilateral partner of India with strong liberal democracies, shared diaspora, trade and investment. The bilateral trade has been growing steadily since past decade and there exists immense potential for the two countries to enhance it further in light of the wide spectrum of complementarities and strengths in the post-covid period," the statement said.

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Published: 05 Aug 2021, 10:03 PM IST
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