| |
 |
| |
 |
Dear
Reader,
Greetings.
The current issue
of Indo-Australian
Business is about
the vibrant economies
of two countries
in the Asia and
Pacific Region.
The economies
of India and Australia
are both driven
by reforms. Australia
is an early starter
with a strong
record in pushing
ahead with reforms.
But on the infrastructure
front it is still
some way behind.
While the reforms
agenda has been
scaled up impressively
at the national
level, their implementation
depended on cooperation
between federal
and state governments
to ensure positive
results. However,
according to a
survey by the
Organization of
Economic Cooperation
and Development
(OECD), that implementation
details are still
to be determined
in the areas of
energy, transport
and infrastructure
as a result of
which the outcome
of reforms have
remained uncertain.
There are also
regulatory delays
relating to infrastructure
development. The
current issue's
cover story highlights
the OECD survey,
the undercurrent
of which is the
exemplary overall
performance of
the Australian
economy and its
resilience. Now,
coming back to
India, its similarities
with Australia
end when it comes
to the implementation
of financial reforms.
To prove this
point, we carry
a Mckinsey study
of the Indian
economy, which
says that a market
oriented financial
system can trigger
its faster growth,
resulting in an
additional accrual
of $47 billion
a year to the
country's GDP.
A key Australian
industry that
has been an engine
of growth is the
automotive sector.
Accounting for
a turnover of
$50 billion, the
automotive sector
has drawn up a
collective initiative
called TEAM Australia
Strategy to boost
automobile production
and exports, including
components. This
article forms
the Focus of the
issue. There is
also a report
on a study carried
out by the Australian
Bureau of Agricultural
and Resource Economics,
which has stressed
the need for developing
new technologies
that could help
reduce carbon
emissions. Australia
is endowed with
natural resources
such as oil, coal
and minerals,
whose exports
have contributed
significantly
to the country's
economic growth.
Similarly, services
have emerged as
major foreign
exchange earners
for the country.
We carry both
the reports. Cricket
is a passion that
both Australia
and India share
very fiercely.
Allan Border and
Sunil Gavaskar
are the living
legends of cricket
fans in both countries.
Three annual scholarships
established in
their honour have
been awarded to
three promising
young Indian cricketers.
The magazine hopes
that these youngsters
will become as
popular as some
of the previous
recipients such
as Mohammed Kaif,
Laxmipathy Balaji,
Gautam Gambhir
and Suresh Raina,
who went on to
don India colours.
For the connoisseurs
of wine, we present
a special feature
on this fast growing
segment of the
Australian economy,
the best of all
beverages ever
bestowed on by
Mother Nature.
Wish you happy
reading
Satya
Swaroop
Managing
Editor
satya@newmediacomm.biz
|
| |
|
|
|
