Adani ‘ tip of investment iceberg’

AUSTRALIA needs more than love of “Commonwealth, cricket and curry” to secure billions of dollars of new investment from India and should embrace the Adani megamine, Resources Minister Matt Canavan will say today.

As President Ram Nath Kovind becomes the first Indian head of state to visit Australia, four Federal Government Cabinet Ministers, including the Prime Minister, will today deliver keynote addresses to push for stronger ties and trade with the nation.

As Australia and India inch closer to a free- trade agreement, the Government is aiming to take advantage of India’s growing middle class. Senator Canavan will tell the India Business Summit in Sydney that Adani’s investment could be the tip of the iceberg for other Indian investment.

“The first lesson I would like to focus on is that the best way to build stronger relations is by doing business,’’ Senator Canavan will say.

“Sometimes I hear it said that Australia should naturally have strong relations with India because we share the three Cs – Commonwealth, cricket and curry – for me, however, this is not sufficient for a strong and enduring relationship.

“I was in India last year during the Australia v India Test matches. Cricket is not a unify- ing factor for our countries during these contests.

“In cricket, there is only one winner and one loser. I know there are sometimes draws, but in business both can win.

“Business should be our focus, not sport or history or food.”

Senator Canavan will have a crack at those with self- serving interests and say the CSIRO and BHP originally advised the Commonwealth not to export coal to Japan because the country could run out.

“Westpac has questioned the need for investment in the Galilee while failing to disclose that they have a financial interest in the Newcastle port — the biggest coal port in the world,” he will say.