Australian Prime Minister John Howard has said India's emergence as a major economic power with a growing appetite for products and commodities that Australia produces places it as an increasingly important strategic partner for his country.

Delivering his first public address on India since returning from his official visit to the country in March 2006, which was also his keynote speech at the 2006 Accor Qantas Australia India function recently, Howard talked about the common interests that the two countries shared.

He set the tone for his speech by recalling his meeting with Indian Prime Minister Manmohan Singh at an ASEAN meeting in the past where he noted that Australia and India "are two countries that have so much in common, but so little to do with each other."

"India and Australia's have common linkages of law and language, commitment to democracy, shared experience in fighting in two wars, and of course, a passion for cricket have all contributed to the warm relations that our two countries share and will continue to share as our relationship grows," Howard said.

He praised India's investment in education and skills development, referring to the achievements of many fine Indian technical institutions. Migration from India to Australia is growing - about 11 to 12 per cent of Australia's migration programme is now made up of citizens from India. It is the third largest source of migration to Australia and the second largest source of overseas students.

With so many things in common, the Prime Minister said he anticipated the relationship to further grow and expected the warm ties between the two countries and shared values and respect to have long lasting benefits for both sides.

AIBC - Celebrating 20 years of bilateral ties, business growth

The Australia India Business Council (AIBC) was formed in 1986 following a meeting in Australia between the then Prime Ministers Bob Hawke and Rajiv Gandhi to help fulfill their shared vision of the enormous potential for bilateral trade and investment. Since 1986, India's star has risen in the region and globally and government, business and community links between Australia and India have grown well beyond what could have been hoped for 20 years ago.

The visit by Prime Minister Howard to India in March 2006 and the strength and quality of the select group of senior business leaders that accompanied him, many of whom represented AIBC member companies, was clear evidence of Australia's recognition of India's status as an emerging economic powerhouse and important strategic partner.

Six bilateral agreements were signed during the visit, including a trade and economic framework and Memoranda of Understanding (MOUs) on customs, defence and biotechnology cooperation. Several commercial agreements between Australian and Indian businesses were also reached.

AIBC, as the only national bilateral business association totally focused on building stronger business links between Australia and India for the benefit of its members and both countries, is proud of its contribution to the growth of the relationship throughout our 20 years, including the many years before India's economic emergence was generally recognised.

The Council has built close relationships with Federal and State governments, the diplomatic corps and industry bodies in both countries and have promoted the mutual opportunities of our bilateral relationship through an active program of events in Australia and business missions to and from India.

AIBC has state chapters located in NSW, ACT, VIC, SA, WA and QLD as well as industry chapters which focus on specific sectors with the greatest potential for growth. This enables the Council to add value to the efforts of governments and business associations throughout Australia. The AIBC events highlight opportunities to its members and the wider business community and provide practical information to help businesses engage in bilateral trade.

The Council's vision for the next 20 years is that relationships between Australia and India in business and more generally will become among the strongest that both countries enjoy. Trade, investment and movement of people will grow in both directions. The Prime Ministers and senior ministers of both countries will meet every year for substantive discussions and will conclude a Free Trade Agreement and work as allies in the cause of multilateral trade and investment liberalisation.

Most of the corporations will have significant investments and operations in both countries as well as collaborative relationships that extend regionally and globally. There will be mutual recognition of qualifications and sharing of educators, researchers and students. Bilateral tourism will expand exponentially. Australia will benefit even more from India's contribution to permanent and temporary migration, while substantial numbers of Australians will study and work in India. The skilled resources of both countries will complement each other in the global delivery of services.

Throughout the exciting years ahead, AIBC will continue to play a leadership role, informing policy development, disseminating useful information, organising a rich programme of events, workshops, courses and missions, and encouraging Australians and Indians to strengthen business ties and personal friendships for mutual benefit and founded in mutual respect.