AFR India Business Summit 2018
Opportunities in an economic partnership
The AFR India Business Summit in association with Deloitte and the Australian Government’s Australia India Council was held on 22 November in Sydney.
India’s economic rise over the next 20 years presents transformational opportunities for increased trade and investment for Australia. The time is right for both countries to engage in a deeper and stronger economic partnership. This high-level Summit delved into key topics including India’s reform agenda in terms of corruption, red-tape, culture, the opportunities and how-to in key sectors and states for facilitating and driving greater interaction.
A (very long) Indian summer is coming
An enormous demographic dividend will play out in India. India’s potential workforce as a share of its total population is set to peak as other major economies, namely China, enter a period of demographic transition towards an aging population. It will also be the world’s most populous nation, with a forecast 1.6 billion people and a rapidly growing and highly educated middle class.
A successful reform agenda will play a large role in realising potential
India, like all democratic states, is not immune to growing pains. And as the world struggles with reform renewal and the notions of inclusive growth, India is a great case study. India has made great progress of late, introducing a national GST, demonetisation, the creation of Startup India, Digital India, liberalisation of trade and tariffs, reforms such as a massive increase in the populations’ access to banking, and now sweeping health reforms.
What India needs, Australia can provide
Across major sectors like education, agribusiness, tourism and natural resources, among others, Australian businesses and know-how is well positioned to ride India’s 20 year wave of growth. A nuanced understanding of India’s diverse and state-dominated economy will be essential as Australia’s businesses and governments look to deepen ties with the world’s rapidly ascending economic powerhouse.
AFR India Business Summit 2018 in association with Deloitte
AFR India Business Summit 2018 - Making an impact that matters
Browse through our blogs:
China’s rise over recent decades has been impossible to ignore. But economic forecasters now actually rank the country only second when it comes to expected speed of growth over the next decade – with India, and its coming people-powered consumer boom, expected to have an even higher crest.
It’s time to turn attention to the oft-ignored economic juggernaut that is India.
Browse through the Voice of Asia report
The Voice of Asia series brings to life the challenges and opportunities facing the Asia Pacific region now and in the future. In the third edition we outline how demographics will drastically reshape the economic environment in Asia Pacific over the rest of this century.
Published: November 2018