Despite the "shocks and jolts" in the past, Australia and India are in a better position to finalise a free trade agreement (FTA) that would further expand bilateral relations, according to a Melbourne-based think tank.
Vice Chair of AIBC Sheda Nandkeolyar expressed her gratitude over the announcement made by Australian Prime Minister Tony Abbott in the Parliament that Free Trade Agreement deadline would be brought forward to 2015.
India and Australia are soon likely to initiate talks for a free trade agreement.
The decline in the trade has been attributed to factors like drop in gold imports from Australia, decline in coal prices as well as slowing down of the Indian economy.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
'Only when China treats India as an equal can we consider them real friends.'
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