The annual rate of growth, 0.8% since September 2023, is the slowest since 2020.

Unsurprisingly, New South Wales and Victoria, the most populous states, have the largest GSP. They account for 31% and 23% of our national economy.

The World Bank estimates that the economy is 3% smaller than in 2019, and that real GDP per capita (approximately income per person) is US$2,517 (VUV 205,602).

Albanese stressed the strong and growing relationship between Australia and India, noting their shared economic goals and the significant contribution of the Indian-Australian diaspora to Australia’s multicultural landscape.

Australians who oppose immigration might want to reflect on whether they would prefer a recession.

India's GDP growth for FY24 also beat expectations with the Indian economy growing at a staggering 8.2%.

"We are quite ambitious about the future of travel between Australia and India."

Australian Science, Australia’s Future: Science 2035 will help governments and others take a more targeted and informed approach.

While some may see this as suggesting that the “last mile” of bringing inflation to heel might be difficult, not too much should be read into it.

India was at number 5 in Australia’s top international markets in October 2023 with 25,000 trips.