Australia and India enjoy a strong and productive partnership and bilateral relationship. Trade and investment is the key driver in the Australia – India relationship. central element of Australia and India’s economic and trade relationship revolves around energy and resources, through both the supply of minerals and fuels to India and Indian investment in the mining and resources sector in Australia. The economic and trade relationship is strengthened by the growth of trade and investment in diverse sectors ranging from education, tourism, ICT, film, sports, financial services, architectural and design services, infrastructure, clean energy and environmental services.
India is Australia’s 4th largest trading partner. Growth in two-way trade reached Rs 1.1 lakh crore (A$ 22 billion) in 2010-11 and it’s expected to reach Rs 2 lakh crore (A$ 40 billion) in the next 3 years. Australia is an important source of India’s gold, chickpea, coal, copper ores, lead and wool requirements, as well as a significant source of education and skills based training, and a collaboration partner in research and innovation including in the automotive, manufacturing and agricultural sectors Australia is an important investment destination for Indian businesses. Indian investment in Australia has now reached an estimated Rs 50,000 crore (A$ 10 billion).
Indian investments in Australia are concentrated around the mining and resources, information technology, infrastructure and the financial services sector. Over the past 3 years there has also been a growing interest from Indian investors to invest in renewable energy, Film tourism and advanced manufacturing, as well as to carry out cutting edge research and development in Australia.
A video showing the infra for film shooting & various scenic location was well received.Speaking at the seminar, Patrick Kearins, Consul (Commercial) and Trade Commissioner for Australia to Western India said, “India is a significant business destination for Australian companies. Australia can provide competitive solutions and expertise both in traditional and emerging sectors for Indian businesses. Sectors of potential Australian involvement in India include across food and beverage and agribusiness; infrastructure and more broadly building and construction; clean energy solutions for energy generation as well as water and waste management; sports; health and medical products, services and training; as well as broader education and skills based training. The Australian Trade Commission can also assist Indian companies as they look to invest in Australia”.
Speaking at the Seminar, Arun Kumar Jagatramka, Chairman & Managing Director, Gujarat NRE Coke Limited said “We are the only Indian company to own and operate hard coking coal mines in Australia. Our hard coking coal production is being increased from the current 2 MTPA to 6 MTPA by 2015, making us one of the top 10 hard coking coal producers in the world. The company is well poised to take the advantage of the growing demand-supply gap for coking coal and metallurgical coke in India as well as in global market”.
|Mr. Patrick Kearins, Consul (Commercial) and |
Trade Commissioner for Australia to Western India
The Innovation Campus (iC), led by the University of Wollongong has developed a technology and research precinct that is driven by results, nurtured by a community that embraces industry and powered by a team committed to innovation.The University of Wollongong’s Innovation Campus (iC) participated at the seminar and provided insight on the significance of Australia as a hub for Indian companies to carry out cutting edge research and development, and the example of utilising the favourable eco system established within the Innovation Campus to set up research and development centres and to innovate for business growth. The University of Wollongong graduates the largest number of ICT students in Australia and is an ideal partner for IT based organisations.
The iC invited Indian businesses to set up their Australian offices and facilities on the campus. The iC offers a steady source of well-trained graduates and research and development partnerships, all within a modern campus environment one hour south of Sydney. The University of Wollongong’s research institutes work in fields such as advanced IT, nanotechnology, intelligent materials and super-conductivity.
Speaking at the Seminar Craig Peden, Director, Innovation Campus (iC), University of Wollongong stated “The University of Wollongong and its Innovation Campus offers the ideal location & entry point for Indian Companies expanding into Australia. With a mix of high quality real estate, proximity to major markets, graduate supply and R&D links, the Innovation Campus offers significant benefits for Indian companies”
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