The government today reached out to Australian investors, asking them to avail of benefits of growing business opportunities in the country.
A delegation led by Assistant Minister for Trade, Tourism and Investment, Australia, Keith Pitt called on Steel Minister Birender Singh today, the Ministry of Steel said in a statement.
The minister apprised the delegation of the National Steel Policy and the initiatives being implemented by the government. He "invited the Australian government and businesses to be part of the ambitious growth and development opportunities available in India", the statement read.
The 'New India' provided ample scope for strengthening bilateral relations through investments, technology transfer and knowledge sharing, the minister emphasised.
He, however, flagged concerns of the Indian steel industry such as wide fluctuations in price of coking coal imported from Australia and the disadvantage to steel exporters caused by concessional tariffs for other countries, the ministry said.
Pitt, on his part, said Australia is also keen on widening the scope of ties from natural resources to technology sharing and knowledge exchange, according to the statement.
"Australian investors are excited to witness growth and potential of business in India... Australia would be happy to help in sharing its expertise in extracting resources efficiently," he was quoted as saying.
Both sides agreed to take the discussions further to work on areas of mutual interest and find avenues for collaboration and cooperation.
The meeting was attended by Deputy High Commissioner to India Chris Elstoft, Steel Secretary Aruna Sharma and other senior officials from Australia and India.
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