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Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

India - New Economy, Old Economy

India: New Economy, Old Economy

November 2001 

In the last decade, significant structural reforms helped India become one of the world's fastest growing emerging economies, boosting living standards and reducing poverty. Economic liberalisation and rising incomes also stimulated rapid trade growth with Australia and significantly increased Australia's foreign direct investment in India.

India is a big, diverse economy with a current growth outlook that overshadows most Asian markets. While the pace of growth in the medium to longer term will depend largely on the speed and extent of ongoing reform, at a time when almost all other Asian economies are anticipating contraction or slow growth, the Indian market cannot be ignored. India has already risen from its position as Australia's twenty first largest export market a decade ago, to twelfth largest as we entered the new century. Several fast growing sectors and states provide increasing opportunities for Australian traders and investors to build on that success.

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Press releases

Launch Presentations and Speeches

  • Presentation and Speech by Frances Perkins, Executive Director, Economic Analytical Unit (Sydney launch)
  • Presentation by Dr Richard Tait, Head of Customer Technologies, ANZ Bank (Melbourne launch)
  • Presentation by Bernard Delaney, Vice President, Government relations, BHP Billiton (Melbourne launch)
  • Speech by Mr Collin Hiss, Managing Director, Lumley Technology (Sydney launch)
  • Speech by Mr Chris Hartley, General Manager Metals Marketing, MIM Holdings (Brisbane launch)

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Department of Foreign Affairs and Trade