Australia and India

Australia Economy

Australia is having a population of roughly 22 million people as of 2010. The popular and well-known states of Australia included New South Wales and Victoria, Sydney and Melbourne are the two cities which are known to be the largest cities of Australia and they come under these two states. It is now considered to be the best of countries in the world on the basis of economy, their development so far and the studies too. Economy in a way that it is sustaining its growth as mining and agriculture let this country to enjoy the lion's share of export.

Government is based on a liberal democratic tradition, according to which the people have freedom of speech and a commitment to religious tolerance. Nationally, Australia's economy is divided into East/ west division. The eastern part of Australia's economy is dominated by its service and financial industries. This region includes Canberra, the capital city and also the heart of Australia's political and economic policies. While, on the other hand, Western Australia is rich with the natural resources, including iron ore, gold, oil and natural gas.

The Australian government often involved in the conflict for the developmental plans due to this contrasting nature of the divisions. Since last two decades, this country accounts for the smooth economic growth. Now Australia is among the developed nation, modern market economy with a GDP of approximately $1.236 trillion (2010). Out of which, it represents 1.7% of the World economy. Australia is known for its well-diversified economy that leads in the world due to its services and resources industries. Australia holds a very competitive location around the world. Many factors contribute to support the business growth in Australia that includes strong institutions, flexible markets and effective and well-targeted economic policies. Mainly, the economy of Australia is strengthened through its service sector, the agricultural and mining sectors.

Australia's economy is comprised of low unemployment rate, decreasing 3.3% over the last decade, and it is continuously raising the labor productivity as compared to United Kingdom. This kind of productivity of labor force and employees attracts the new businesses. As Australia being not much technically advanced, therefore it imports many electronic and mechanical equipments including computer, office machines, and telecommunication equipments. Around the world, Australia's businesses hold a very competitive site. Being a leading exporting country, Australia has a pride in supplying variety of products that flow from its natural soil natural. Natural resources found abundantly in Australia. The financial growth of Australia depends mainly on minerals; that contributes more than 75% of Australia's exports; and the raw materials also play a major economic role.

Indian Economy

India claims to be the biggest democratic nation of the world with over 1.2 billion people. India emerged as a powerful nation in 1990s on the globe with the biggest democracy, almost after 45 years it managed to stand among the fast growing economies of the world, with a strong military.

There are many laws developed in India for the fulfillment of HR activities. One of them is ...