Come December 1998, the Australians were already making serious preparations to break the ice. After all, India was still not a totally capitalist country, where the government could be ignored or treated with contempt. Business in India continues to be inextricably linked with government policy. And, with BJP at the helm of affairs in New Delhi, swadeshi politics dominates. Indians did not have to wait long. Two months later in February 1999, Tim Fishcer, Australia's deputy Prime Minister and minister of trade addressed theIndia-Australia Joint Ministerial Commission (JMC) in New Delhi: " The bilateral economic relationship is flourishing, as I predicted it would during my last visit in 1996. While the balance of trade is in Australia's favour, Australian exports provide many of the materials which drive Indian industry". Bryce Hutchesson, Deputy High Commissioner of Australia in India, termed Fishcer's visit "symbolic", marking the "normalisation of political relations". For Australians, India has emerged as the third largest export market for coking coal and fourth for non-monetary gold. The figures are self-explanatory. Coking coal imports from Australia rose dramatically from nil in 1995 to Aus$ 9,489,000 in 1998 and non-monetary gold from Aus$ 1,974,000 to Aus$ 179,137,000. The Australians exported Aus$ 2.146 billion worth of goods to India and imported merchandise valued at only Aus$ 681 million.

The centre-piece of Fishcer's visit was the JMC, the official mechanism for addressing key bilateral trade and investmentissues. Aptly Fishcer described his confabulations with his host Indian Commerce Minister Ramakrishna Hegde under the aegis of JMC as an "opportunity to review the substantial, diverse and rapidly expanding nature of the bilateral trading relationship, and to focus on examining ways to expand commercial ties".Significantly, Fishcer returned satisfied after signing the bilateral Investment Protection and Promotion Agreement (IPPA) with Hegde.

In interactions with Indian businessmen under the aegis of the Joint Business Council, hosted by the Federation of Indian Chamber of Commerce and Industry (Ficci), the representatives of 25 Australian companies accompanying Fishcer, were overwhelmed by the response. Unexpectedly, the Indian businessmen proposed the doubling of two-way trade within a couple of years.

For trade to double, logically Indian exports too must show a phenomenal growth. While Australian exports have been leap-frogging, India's exports have been only steadily rising, from Aus $ 476,066,000 in1994 to Aus $ 564,075,000 in 1996 and Aus $ 681,118,000 in 1998. According to the Indian ministry of external affairs market intelligence report, Australia's top tenth position in the global information technology and telecommunication industry is under attack as countries fight for a share of the $ 1.8 trillion market. Australia has managed to hold on to its top position by increasing the amount spent on information communication technology from $ 21.4 billion in 1992 to $ 33.4 billion in 1997.

India has a reservoir of talent in infotech, notably software. Australia is quite willing to take in Indian software specialists as immigrants. As Laurie put it: " Indians will qualify quite easily". Along with export of goods, India can look forward to a substantial jump in earnings on account of invisibles.

The daughty Sikhs were among the first Indian settlers in the 1880s and took to farming in Queensland, New South Wales, helping to establish sugar plantations. When sugar cane failed, they got into the bananaindustry. Australia is a vast virgin territory. According to Laurie, Indians can buy land in Australia for farming and sheep breeding. The problem of immigration for cheap Indian labour is a difficult one. But, not insurmountable for gentlemen farmers, who can meet the strict educational-immigration criteria. They can grow pulses for export back home. It is technically feasible and desirable; a modus operandi has to be worked out to give it concrete shape. It is an opportunity waiting to be tapped.

Excerpts of the interview Australian government had reacted very strongly to India's nuclear explosions in May 1998 and stopped all official high level visits. Is the visit of deputy Prime Minister Tim Fishcer indicative of a change of heart?

We still have serious political differences. Our views have not changed and are strongly negative on India's nuclear explosions though we welcome several Indian initiatives. For example, Indian Prime Minister's statement on CTBT and the Lahore initiative. So, we havelifted restraint on high level visits. In fact, we have initiated the visits. Indians are ready partners. Otherwise, we would not have concluded an investment protection agreement. We don't make apologies. Does this mean, you are once again positive on commercial relations?

That depends on economic circumstances. If Indian and Australian economies show strong growth, exports will go up. We have had a very clean business engagement under the aegis of the Joint Business Council. Are you satisfied with the progress on the Indian economic policy front?

The whole process of economic liberalisation has been a huge factor in the growth of trade. We would like to see the liberalisation trend continue and strengthened. You have opened up the insurance sector which is of considerable interest to Australian business.