The Finance Minister Shri Arun Jaitley said that the Australian future and super funds be exposed to India. The Finance Minister Shri Jaitley raised this point during his bilateral meeting with the Treasurer of Australia Mr Scott Morrison in Sydney today. Shri Jaitley called for increase in investment by Australia businesses in India as they can get better returns on their investment. Shri Jaitley said that India wants to be benefitted by Australian experience in implementing GST. He said that India is also ready for GST and hoped that it will soon become a reality.

Speaking on the occasion, Mr Morrison said that Australia is keen to further increase its investment in India. Mentioning the recent developments in bilateral and strategic cooperation in multiple areas, he emphasised the common interest of both countries in promoting policies to sustain economic growth and create jobs for the youth. Both the leaders discussed the economic situation in both countries as well as globally. Expressing happiness over the growing bilateral trade and investment, they agreed to continue and enhance economic engagement and collaboration.

The Meeting was also attended among others by the officials of Ministry of Finance, Government of India and Reserve Bank of India from Indian side and senior officials from Australia Treasury and Reserve Bank of Australia from Australian side.

Investment promotion: call for Australian superannuation funds to increase exposure to India, strengthening bilateral economic engagement. The Finance Minister called for Australian superannuation and future funds to increase exposure to India, urged Australian businesses to raise investment allocations for better returns, and sought Australian experience on implementing a national GST; both sides agreed to deepen trade and investment collaboration.