The bilateral relationship between India and Australia has vast potential that is yet to be harnessed, said Alex Chernov, Governor of Victoria, who inaugurated the Delhi centre of the Australia India Institute (AII) on Wednesday.
The AII, based at the Melbourne University in Australia, has over the recent years contributed immensely to the deepening of bilateral relations, said Mr. Chernov. Amitabh Mattoo, who was until recently heading AII in Melbourne, will now head its Delhi operations. “Prof. Mattoo’s initiatives have brought scholars and decision makers from both countries closer,” said Robert Johnson, Chairman, AII.
Union Minister of Railways Suresh Prabhu said India was the best destination for Australian investment, particularly for its huge pension funds that have now grown bigger than the country’s GDP. “There is no other place that is better than India’s infrastructure sector for global investors currently,” Mr. Prabhu said, adding that within India, the Railways provided the best investment opportunity. “There is no other sector where there is a guaranteed cash flow as in the Railways, which is essential for retirement funds,” said Mr. Prabhu.
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Member of Parliament Jay Panda spoke.