Panellists on the Committee for the Economic Development at Australia's State of the Nation 2013 conference have suggested that the country's opportunities in the Asian Century lie with infrastructure.
The High Commissioner for India, Biren Nanda, said growth in India and a review of both public and private local investment had given rise to greater opportunities for Australian investors.
"For example, in the next five years we are doubling our infrastructure spend to one trillion dollars," he said.
"Almost half of it will come from the private sector and I understand Australia has a lot of experience with public-private partnerships, so there are opportunities there."
Japan's Ambassador Extraordinary and Plenipotentiary, Yoshitaka Akimoto, said that although business ties between Australia and Japan were strong, the country was interested in expanding its relationship to non-traditional areas.
Japan's lack of experience in infrastructure investment was an opportunity for Australian businesses.