New Delhi, Mar 30 (KNN) India faces three major challenges now viz. boosting Exports in view of shrinking global trade, increase in private investment and better hope for monsoon this year after insufficient rains in last two consecutive years, said Union Finance Minister Arun Jaitley.

Jaitley was making his Opening Remarks during his meeting with the Foreign Minister of Australia, Julie Bishop in Sydney today. 

He said the Economic Reforms are widely accepted in India especially the reforms in taxation and Foreign Direct Investment (FDI) among others.

On the second day of his four day official visit to Australia, the Finance Minister pointed the scopes for foreign investment in India in various sectors which have now been opened for FDI including Railways, defence and manufacturing among others.

Inviting the Australian businesses to invest in India, Jaitley highlighted the various initiatives and reforms measures undertaken by the present Government in India in last 22 months. 

Speaking on the occasion, the Foreign Minister of Australia, Julie Bishop said that Australia can play a major role in providing various services to India especially in field of innovations, R&D and designing, vocational training and skill development among others. (KNN Bureau)