President of India Mr Ram Nath Kovind who was in Australia last week loved the Australian word 'mate'.
Mr Kovind said, "I like your cultural expression, mate and mate-ship. I hope to see more mates and mate-ship between the business communities of Australia and India."
In his address, President Kovind talked about the commonalities between Indian and Australia.
"India and Australia are close and natural friends. There are a personal comfort and bond between our two countries, our shared values and commonalities. Not the least our, passion for cricket and cinema have helped us established a vibrant partnership," he said.
Mr Kovind welcomed the Australian initiative of the India economic strategy report. He said, "There is matching energy and heightened policy focus on our trade and investment relations as well. In this context, I am happy that the Australian side has come up with the India economic strategy report. We welcome it. It has positive ideas and prospects."
However, he did not forget to mention that the size of the economic partnership is still minimal between the two countries.
He said, "Our investment relations, however, comparative to our respective economy size and prospects are yet to take off. The two-way cumulative investment stands at just under AUD 30 billion. I am certain this will change fast and soon."
President Kovind invited Australian investors to India. He said, "Australian pension funds, high-end technologies and innovative products are the natural fit for Indian growth and development."
Speaking earlier, the foreign minister of Australia Ms Maris Payne said she would be visiting India in January for the 'Raisina Dialogue'.
