Research Scholar, Kurukshetra University, Kurukshetra, India
Online published on 11 September, 2014.
Recent years have seen remarkable growth in the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Two-way trade has grown in value from $5.1 billion in 2003 to $15.2 billion in 2013. India is the world's largest democracy and is a market of 1.2 billion people. Its youthful population, diversified economy and growth trajectory present significant opportunity for Australian business, especially in the agriculture, energy, manufacturing, mining and services sectors. The objective of this paper isto assess the role of Australia's trade relation mainly in economic development of India. To empirically test the trade relation between India and Australia we used simple linear regression analysis. We have taken absolute time series data from 1970–2012 for our analysis. The results reveal a significant relationship between India and Australia.
