India is currently experiencing a historic shift in economic growth driven by long-term structural adjustments. This presents a number of opportunities, including:
On top of this, India is experiencing massive population growth. By 2025, one-fifth of the world's working age population will be Indian. By 2030 there will be over 850 million internet users in India. By 2035 India's five largest cities will have economies of comparable size to middle income countries today.
What this means is over the next 20 years, a growing India will need more of the things Australia is well placed to provide, including agricultural technologies, innovations in energy markets, health services and efficiencies across the food and water supply chains.
Incomprehensible growth aside, it is the underlying structural and personal complementarities between our economies that set up the case for success. Australia and India have long-standing ties which are underpinned by people-to-people ties and shared values.
An India Economic Strategy: Navigating from Potential to Delivery, A report to the Australian Government by Mr Peter N Varghese AO, July 2018 -