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India mainly imports from Australia is service provided to indian in Education fields which drains Indian Foreign exchange.
In near future, India will be forced to import Iron ore, Grains (Beans, pulses not wheat and rice) and of course Cotton, and edible oil specially canola and rice bran oil.
As growing and thriving middle class has got more capacity to buy products and services which wasn't even in dream before 10 years due to high income.
Indian economy is growing enough with global economy but paralyzed economic policies, regularity within different industries , confidence of export industries loosing edge due EU crisis and slowing American Economy. This could be forcing reasons of widening CAD and imbalance in foreign exchange and INR depreciation.
Solely dependence of oil and gold import will heavily affect Indian Current Account Deficits and Currency (INR).
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoexcept mines and some cattle farms australia has nothing, so they import most of the things from other countries
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