Australia to enhance economic ties with India

Australia on Monday reiterated support to Indian viewpoint that world financial decision-making forums must be democratic and representative, and sought to enhance trade links between the two countries.

It also backed New Delhi's claim for a berth in the UN Security Council. "India's economic performance through the global recession already points to Asia's growing ability to generate its own growth. And this will only get stronger," Treasurer

Wayne Swan said at a meet hosted by city-based economic think-tank National Council for Applied Economic Research (NCAER).

"India's prosperity will contribute to our prosperity," Swan said, adding Australia wished to enhance the trade ties.

India is Australia's fifth largest export destination, with trade concentrated in commodities such as coal, gold and services such as education.

Swan, who is on his way back from G-20 meet in London, is in India to meet Finance Minister Pranab Mukherjee, Planning Commission Deputy Chairman Montek Singh Ahluwalia and PMEAC Chairman C Rangarajan.

His visit to Delhi follows the recent visit of Deputy Prime Minister Julia Gillard and Trade Minister Simon Crean. "I know the Prime Minister is keen to get here this year," Swan said about Kevin Rudd's expected visit later this year.

Reiterating the comments of Gillard, Swan said he wanted to reassure Indian officials and students that Australian government is committed to ensure "a safe and welcoming environment of Indian nationals studying abroad."