Australian business delegation to discuss economic ties with India

MELBOURNE: In a bid to strengthen economic relations with India, an Australian business delegation led by a lawmaker will visit Hyderabad and Mumbai for three days to explore avenues for greater commercial engagement.

"The economic relationship between Australia and India has vast potential and negotiating a strong, high quality Comprehensive Economic Cooperation Agreement by the end of 2015 to unlock this potential is our number one economic priority," said Steven Ciobo, Australian lawmaker who will lead the delegation.

In Hyderabad, Ciobo will meet with the Chief Ministers of Andhra Pradesh and Telangana, as well as business leaders, to explore avenues for greater commercial engagement.

He will also address a Confederation of Indian Industry regional business event.

"I am visiting Hyderabad to showcase Australia's capabilities in infrastructure, health and tropical medical services to meet the economic development priorities of this dynamic, progressive and business-friendly region of South India," he said ahead of the visit from today.

In Mumbai, he will advance our economic diplomacy objectives in India and consolidate Australia's linkages with Maharashtra, which remains one of the economic powerhouses of India, with a population of over 100 million.

"Australia has a strong relationship with Maharashtra state, particularly in the insurance, financial and education sectors.

"Deepening our linkages and creating further opportunities for Australian investment and business there is a key priority," he said.

India is Australia's 12th largest trading partner.

In 2014, Indian foreign investment into Australia reached $11 billion, with $9.8 billion in Australian investment in India.