Welcome to a new edition of business envoy, focusing on India. Just over 25 years ago India was barely engaged in the global economy. Today, it is the world’s fastest growing major economy and will become the third largest economy by 2030.
Growth is driven by the world’s largest and youngest working-age population, domestic consumption, investment in infrastructure, education, and innovation. Emblematic of its rise — a billion new smartphones will be sold in India in the next five years.
This edition will give a sense of where new trade and investment opportunities exist for Australian business and highlight examples of successful collaboration between Australia and India. In the coming months, DFAT, Austrade and state and territory governments will continue to support Australian businesses to explore opportunities that enhance trade and investment ties with India, including at Australia Business Week in India.
Business Envoy April 2017