Sydney | Promising better returns, Finance Minister Arun Jaitley today invited Australia’s sovereign wealth funds and pension funds to invest in India. During a bilateral meeting with AustralianTreasurer Scott Morrison heretoday, Jaitley sought investments in India by the Future Fund, Australia’s sovereign wealth fund, as also by the Super Fund, the country’s multi-industry superannuation fund.
Jaitley also called for higher investments by Australian businesses in India, saying they can get better returns on their investments. He also said that India wants to benefit from the Australian experience in implementing GST, saying India is ready for GST rollout as hoped the new indirect taxation regime will soon become a reality.
During the meeting, Morrison said Australia is keen to further increase its investment in India. Talking about recent developments in bilateral and strategic cooperation in multiple areas, he emphasised on the common interest of the two countries in promoting policies to sustain economic growth and create jobs for the youth.
The two leaders discussed various global and bilateral economic issues and agreed to continue and enhance the economic engagement and collaboration of the two countries. The meeting was also attended by the Finance Ministry and RBI officials from the Indian side, as also by the senior officials from Australia Treasury and the Reserve Bank of Australia.