Australia and India Examine Areas for Mutually Beneficial Cooperation

“India is now widely regarded as an economic power house registering GDP growth rate of above 5%. Indians attach great value to education and the power of learning. The Indian community in Australia from the sectors of engineering, medicine, research and teaching have contributed substantially to the Australian economy. Australia seeks to carry forward its economic relations with the Indian diaspora”, said Ms. Michelle Rowland, MP, Federal Member for Greenway, Shadow Minister for Citizenship and Multiculturalism, Shadow Assistant Minister for Communications, New South Wales, Parliament of Australia during an interactive meeting organized by All India Association of Industries and MVIRDC World Trade Centre Mumbai.

Examining the areas for mutually beneficial cooperation Ms. Rowland said Australia exhibits a competitive edge in the sector of infrastructure. The Indian economy intending to invest US$ 1 trillion in infrastructure may seek assistance from Australia to upgrade its infrastructure sector.  The Public-Private-Partnership model may be a viable option in this regard. Also, the Indian economy may benefit from cooperation in the sectors of minerals & mining, banking & financial services among others. Indian investors have made huge investments in the mining sector in Australia, Ms. Rowland added.

Addressing the issue of unemployment and under employment faced by the Indian diaspora in Australia, Ms. Rowland said that the Government of Australia has been working towards generating employment opportunities for the retrenched workers. 

Going forward, Australia proposes to amend its decision on the supply of uranium. We look forward to supply uranium to the Indian economy abandoning the clause of signing the Nuclear Non-Proliferation Treaty, Ms. Rowland said.

Further, Ms. Rowland said that Australia may undertake learning lessons from India as it seeks to upgrade its National Telecom Policy. Also, Australia called upon Indian investments in the sectors of education and healthcare.

Ms. Kilmeny Beckering Vinckers, Deputy Consul-General, Australian Consul-General was present on the occasion.

Earlier, in his welcome address Mr. Vijay Kalantri, President, All India Association of Industries and Vice-Chairman, MVIRDC World Trade Centre Mumbai said that India and Australia have enjoyed long standing relations since ancient times. The bilateral trade between the countries stands at US$ 19.16 billion with India’s exports worth US$ 3.45 billion and Australian exports worth US$ 15.73 billion. Major exports of Australia include gold, chickpeas, coal, copper, ores, lead and wool. India’s exports to Australia include pearls and gems, jewellery, medicaments and passenger motor vehicles. The economies may collaborate successfully in the areas of education, shipping, logistics, mining, infrastructure and IT, Mr. Kalantri observed.

February 7, 2014   

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From (L-R): Mr.  Y. R. Warerkar, Executive Director, MVIRDC World Trade Centre Mumbai, Ms. Kilmeny Beckering Vinckers, Deputy Consul-General, Australian Consulate-General, Mr. Harish Velji, Chairperson of the Sub-Continent Friends of the Labor Organisation,  Capt. Somesh Batra, Vice Chairman, MVIRDC World Trade Centre Mumbai, Mr. Vijay Kalantri, President, All India Association of Industries and Vice Chairman, MVIRDC World Trade Centre Mumbai, Ms. Michelle Rowland, MP, Federal Member for Greenway, Shadow Minister for Citizenship and Multiculturalism, Shadow Assistant Minister for Communications, New South Wales, Parliament of Australia, Ms. Aisha Amjad, Board Member of the Sub-Continent Friends of the Labor Organization during an interactive meeting with Ms. Rowland organized by the All India Association of Industries and  MVIRDC World Trade Centre Mumbai.