Australian Prime Minister John Howard, accompanied by a contingent of business leaders, will visit India next week with the aim of strengthening trade relations.
India is Australia’s 12th-largest trading partner. Howard said his trade mission is an acknowledgment of India’s emergence as a “major Asian and global power”.
According to a report by Dow Jones, Tim Harcourt, an economist at Australian government agency Austrade, observed that smaller Australian companies are selling more processed food to India now that import restrictions have been lifted.
“India has a large young population with a variety of Western and Indian tastes,” he said. “There are a number of examples of Australian companies doing quite well, such as The Cookie Man.”