INDIA, AUSTRALIA AGREE TO IMPROVE TWO-WAY TRADE Indian and Australian businessmen signed a memorandum of understanding to boost two-way trade and joint industrial ventures in both countries, spokesmen of the Indo-Australia Business Council told reporters. The Indian Council said it hoped India's exports to Australia would improve in the next few months and reduce the trade balance which is heavily in Australia's favour. In 1986 Australia sold 428 mln Australian dlrs' worth of goods, including steel and coking coal, to India and bought 170.5 mln worth of items, including cotton textiles, from India.