India has asked Australian Superfunds having huge investible assets to invest in major infrastructure projects in the country.
The invitation was extended by Commerce Minister Suresh Prabhu who addressed representatives of some 25 Australian Superfunds in Sydney on Tuesday and informed them about the many opportunities that have come up.
He focussed on the structural changes such as introduction of the Goods and Services Tax (GST), shifting of informal sector resources to formal sector through financial inclusion and increased digitalisation and the measures being taken in making the processes of doing business in India easier.
The minister highlighted the investment opportunities in various infrastructure projects such as industrial corridors, ports, smart cities, airports and railway projects.
Presentations were made by Invest India and Delhi-Mumbai Industrial Corridor Development Corporation on details of specific investment projects that the Australian Superfunds may invest in.
Australian superannuation funds are one of the world’s largest and valued valued at $1.92 trillion as on December 2017.
Prabhu also addressed the Asia Society, Australia, on “India’s growth story: Opportunities for Australia” during the day in which he mentioned the sectors of knowledge-based agriculture, services, education and manufacturing as the key areas of cooperation between India and Australia.