Indian companies interested in investing in Australia: Ferguson

Last Updated: Tuesday, December 4, 2012 - 15:22

New Delhi: Many Indian companies are keen on investing in Australia, which has rich energy resources, an Australian Minister said on Tuesday.

The country looks forward to working with India at the "highest level", especially in the area of renewables, Australian Minister for Resources and Energy Martin Ferguson said.

"Indian companies want to make investments in Australia," he said while speaking at the '2012 Australia-Indian Roundtable' here.

Many Indian corporates, including Adani and GVK, have made substantial investments in Australian energy sector.

Australia's known uranium resources are the world's largest, accounting for 31 percent of the world total. In 2011-12, Australia produced 7,700 tonnes of uranium oxide concentrate.

The roundtable was organised by entities from both countries, including Observer Research Foundation from India.

Australia and India expect to double their bilateral trade to USD 40 billion by 2015. At present, the annual bilateral trade stood at about USD 21 billion.


First Published: Tuesday, December 4, 2012 - 15:19

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