“Source:Australia India Business Council”
Australia India Business Council (AIBC) QLD Chapter held a very successful business networking dinner for its members and non-members from the business community on 15 April 2019 with the theme being “Opportunities Abound as India Grows”.
Dr. Nik Senapati, President of AIBC QLD Chapter spoke about how AIBC as the peak body of facilitating bilateral trade and investment between the two largest economies in the Indian Ocean region, has been growing rapidly in memberships in QLD, facilitating many inbound and outbound partnerships for small, medium and large companies from both countries. Nik acknowledged the efforts of all new Executive Committee members of AIBC QLD Chapter and welcomed the new AIBC members who attended this event encouraging them to grow their networks through AIBC for increasing value in their business transactions. To quote Nik “Opportunities Abound for QLD businesses as India grows”.
Mr. Stewart Schneider-Loos, CEO of Asia Pacific region for 20Cube, the key sponsor for this AIBC dinner event shared the growth story of the company starting from Australia and the rapid expansion into Asian countries with increasing focus into India. Stewart also mentioned about AIBC QLD Chapter’s ongoing assistance towards providing key contacts and networks in India towards enabling their growth story and navigating the market. To quote Stewart, “20Cube is looking forward to significant growth in Indian market”.
Mr. Jim Varghese AM, National Chairman of AIBC spoke about key issues arising from the “Varghese Report” – India Economic Strategy 2035 – Navigating from Potential to Delivery (#IES2035NPD) – and the positive impact it has had in giving direction towards growing bilateral trade. Jim acknowledged the ongoing support from AIBC National Platinum sponsors Deloitte and McCollough Robertson Lawyers and National Gold Sponsors Australian Super and IMAN Australian Health Plans. Jim informed the audience that the Indian Government has appointed its own committee of champions in key sectors to develop their own equivalent of the Varghese Report for a clear roadmap to enhance bilateral trade across a wide range of industries. Jim reassured the audience about AIBC’s unwavering commitment to support its members and insulating each member from unwarranted political influences reflected in negative statements being made about the Indian Australian community. Jim highlighted how the growing Indian community is actually invested into a broad range of industries including IT and Artificial Intelligence sector, Commodity exports, professional Advisory services, key areas of Tourism, Hospitality and Education sectors, Renewable energy and Manufacturing sectors thereby contributing towards extensive job and wealth creation onshore across Australia. To quote Jim, “AIBC will continue to provide members significant value addition and support in their endeavours towards significantly growing trade between both countries and assistance policy makers with macro level issues towards a successful Free Trade Agreement being finalized in near future”.
Mr. Paul Martyn, Acting CEO of Trade Investment Queensland shared extensive insights into ongoing initiatives by TIQ towards developing inbound and outbound trade and investments between QLD and India. Paul representing Premier of QLD presented highlights of the QLD India economic strategy 2018 to 2035 with updates on major agreements ongoing between QLD and India on key focus industries of Education & Training, Tourism, Mining & METS, Food & Agri business and Healthcare. To quote Paul, “TIQ is keen to make Queensland the topmost trading state of Australia with India and continue providing significant assistance in key areas identified in the QLD India economic strategy”.
The Chief Guest for the event, H.E. High Commissioner of India to Australia Dr. A.M. Gondane congratulated the AIBC for their extensive efforts in promoting bilateral trade between Australia and India. Dr. Gondane mentioned about the ongoing efforts to fast track the Free Trade Agreement between Australia and India which was announced by Hon Prime Minister of India Shri Narendra Modi during his first visit to Brisbane in November 2014 to participate in the 20 Summit.
Dr. Gondane spoke extensively about many areas of growing need for Australian technologies in areas of IT and Artificial Intelligence, Education, Skills development for forecast annual output of over 100 million graduates across India, massive investment of trillions into Infrastructure development with growing interest of Australian Superannuation sector to invest in this key sector, focus of current Indian government to develop the 100 smart cities across India for which initial ground work has been laid, demographic dividend that’s easily available in India with largest English speaking population in the world having over 500mn adults in the 18 to 35 age group able to provide qualified labour and high end intellectual services, expansion of opportunities for major economies to participate in India’s future growth story that’s expected to maintain at least 7.5% per annum over next five years. Dr. Gondane also specifically mentioned about the inclusiveness approach of the Indian Government towards uplifting at least 300mn to 400mn citizens of India from poverty into mainstream economy by providing them jobs and opportunities across the 600,000 villages spread across India which itself is capable of generating large economic activities
Dr. Gondane thanked Mahadevan Shankar, Executive Committee member of AIBC QLD Chapter for inviting him to the networking event and encouraged the QLD business community to take up the challenge to engage with India’s economy that despite its weaknesses, is now growing rapidly in global rating agencies ease of doing business. To quote Dr. Gondane, “Australia has a very important role in the ongoing growth and development of India through transfer of technology, skills, education towards developing the inclusiveness approach to bring over 300mn citizens of India to participate in the job and wealth creation of the fastest growing Indian economy”.
The Q&A session during the event was well represented by diverse issues being raised from Education, Tourism, Manufacturing, Mining and other key sectors
Mr. Ankit Taneja, National Country Manager of the large Indian conglomerate Mahindra Group having it’s Australia HQ in Brisbane shared his experiences of doing business in Australia and their fabulous growth story across different sectors of vehicles, tractors and agricultural sector equipment sales in Australia. Mr. Jagjit Singh, Head of Business Development – South Asia at Tritium Pty Ltd shared his experience of foraying into the Indian market for sale of their EV Chargers through a strategic tie-up with TATA Group, one of India’s oldest and largest group of companies.
Ms. Jactina Webb, Director of Business Improvement at Department of Education, QLD Government shared her positive experiences in developing bilateral partnerships between QLD and Indian schools and businesses towards bringing them to globally competitive standards prevailing in QLD.