Coal, beer, blood and condoms: Australian contributions to India's economic growth

Interdependence and dynamic linkages between the emerging stock markets of South Asia

“…Fourth, from an Australasian and, in particular, an Australian perspective, traditionally, South Asia was considered a secondary market relative to South-East Asia (Vicziany, 1993). In part this reflected the perception of Australasian companies that South Asia (and India especially) was a difficult market (Vicziany, 1993(Vicziany, , 2000Vicziany and Chaterjee, 1999). However, there are several similarities between Australia, New Zealand and India, which always underpinned the potential for improved investment and trade ties.…”

“…Because of these complementarities South Asia has become increasingly important to Australia and New Zealand over the last decade. Since the liberalization of the international sector of the Indian economy in 1991, and the establishment of the Australia-India Council in 1991, trade has increased and a growing number of Australian companies have entered the Indian market and become insiders (Vicziany, 2000). Trade between Australia and India alone increased from $A0.75bn in 1989-1990to over $A2.5bn in 1998(Shand, 2000 and by the end of 2003 India is expected to be among Australia's 10 largest trading partners (Indo-Australian Business Committee, 2003).…”