Australia is keeping a close watch on Indian economy after the Narendra Modi government announced demonetisation to tackle black money. As per Australia’s High Commissioner to India Harinder Sidhu, Australia is also thinking about demonetising their highest denomination note.
In an interview with The Indian Express, she said that she was extremely impressed with how the government has been grappling with demonetisation effects.
“I am watching with great fascination how it unfolds — if it works, it will be a profound change for the Indian system. It’s certainly the most radical policy I’ve ever seen put into effect. I’m very impressed with how the government has been grappling with it,” she said.
She added that Australia has also been making efforts to combat black money and may take inspiration from India. “We’ve just announced a black money task force in Australia; there’s been some conversation about demonetising our highest denomination note,” she said.
The trade relationship between India and Australia have seen a significant rise in the last few years. Apart from the trade ties, Sindhu says the defence relationship between the two countries is one of our great success stories.
With several reports of racism attacks against Indians in Australia, the envoy said: “Indians shouldn’t fear.” She added that Australia is a very tolerant, multicultural society and is one of the safest countries in the world. “It is a very welcoming place for Indians,” she said.