New Delhi [India], August 5 (ANI): Union Finance Minister Nirmala Sitharaman met Tony Abbott, Special Envoy of Australian Prime Minister, and said that complementarities between both countries provide immense scope for augmenting the economic relationship.
The two leaders held discussions on various issues of mutual interest.
A Finance Ministry release said that Abbott complimented India for undertaking comprehensive and sustained reforms programme and said that the country 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.
Nirmala 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.
"The Finance Minister also emphasised that the complementarities between both countries provide immense scope for augmenting the economic relationship," the release said.
She highlighted that 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 said a team from Australia could engage with the Indian side to better explore the avenues for investment in National Infrastructure Pipeline projects.
The release said that Australia is an important bilateral partner of India. The bilateral trade has been growing steadily for the past decade and there exists an 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, it said. (ANI)