India, March 12 -- At the World Economic Forum in Davos this January, one of the big topics of conversation was India. The presence of India's largest ever delegation was noticed, as was the activity of Team India's dealmakers, who returned home with investment commitments to the tune of Rs.20 lakh crore ($ 230bn).

Like these deals at Davos, this year's Union Budget is a strong statement of confidence in India's future as a global economic force. Today, India ranks fifth in terms of world's nominal Gross Domestic Product (GDP) and is set to overtake Japan and Germany and become the third largest global economy before 2030.

India is one of BHP's most important markets, not only because of its size but because we recognise a shared vision...