New road map to boost bilateral Australia India trade and investment unveiled at Australia India Business Council dinner

‘’Perseverance, Preparation and Partnership,’’ were the three words recommended to Australian businesses wanting to boost their trade and investment with India, by Peter Varghese AO, the architect of An India Economic Strategy to 2035.

 

“Business to Business participation and follow -ups are key factors in the trade with Australia,” according to former Ambassador Anil Wadhwa, the author of Australia Economic Strategy.

 

These high-level strategic directions to boost bilateral trade, were revealed at the annual Australia India Address held at the Four Seasons Hotel, Sydney on Thursday, 12 December 2019.

 

In her keynote address Senator, The Hon Bridget McKenzie, Federal Minister for Agriculture and officially representing The Hon Scott Morrison, Prime Minister of Australia, said, “It is going to be a new chapter in the Australia India trade relations, with the Prime Minister’s visit to India in the New Year. We reaffirm our partnership with India.”

 

She said the Federal Government was focused on helping Australia build business-to-business relationships with partners in India to expand the agribusiness trade.

 

 “Finding the right partner and building the relationship is the key to success in the Indian Trade,” she added.

 

The AIBC Australia India Address (AIA) is an annual flagship event of the Australia India Business Council Limited (AIBC) founded over 33 years ago. It’s the only body representing bilateral and investment relations between Australia and India.

 

Kartik Mohandas, Master of Ceremonies, set the scene by presenting an overview, saying this event provided a major platform for bilateral discussions, business networking and sharing the visions of key stakeholders.

 

Sameer Arora, AIBC NSW President, welcomed Senator McKenzie, Peter Varghese, Anil Wadhwa, Manish Gupta, Consul General of India, Sydney, Neemisha Gupta, Dr G.K. Harinath, Chair, Multicultural NSW, AIBC members, guests, sponsors and media representatives.

 

He stated, “It is the vision and dream of India’s Prime Minister Modi to make India a five trillion dollar economy by 2024. India is on track to make this dream a reality. The big question is whether Australian businesses are ready to be part of this journey?”

 

He added that the AIBC played a major role: in bridging the gap between the two successful economies, facilitating business-to-business connectivity, people-to-people links for mutual economic prosperity of both nations.

 

He further added that the AIBC NSW Management Committee had a committed and motivated team of professionals and high achievers all focussed on delivering outcomes in the short and long terms.

 

AIBC NSW has developed action plans and programs in alignment with strategies identified by AIBC National Board to promote mutual trade opportunities in NSW.

 

Jim Varghese AM, AIBC National Chair, acknowledging the presence of the speakers, special guests, sponsors, AIBC Board Members past and present,  AIBC NSW team, Confederation of Indian Industry, FICCI, Austrade, NSW Trade & Investment and other eminent invitees,  said India was the fourth largest  trading partner for Australia, with a total investment of over $15 Billion.

“Our economic relations are heading for a new phase with the planned visits to India by The Hon Scott Morrison, Prime Minister of Australia and The Hon Simon Birmingham, Federal Trade Minister leading high-level delegations in 2020.

 

 “AIBC aims to be represented in both delegations. There are common opportunities and sectors identified both in India Economic Strategy and forthcoming Australia Economic Strategy such as mining, energy, education, infrastructure, sport, agriculture,” he said.

 

He added that AIBC would focus on such opportunities through State Chapters and Industry Chapters including the recently launched “Make in India Chapter”

 

He formally announced the new AIBC Agriculture Chapter, with Con Livissianis as Chapter Chair and Rohitas Batta as Co-Chair.

 

Senator McKenzie congratulated AIBC for announcing this important Chapter and said, “I look forward to working with AIBC, the industry and my counterpart Minister in the Indian Government to promote Agribusiness.”

 

Manish Gupta, Consul General of India, Sydney, said AIBC played a major role in bilateral relationships. Within a short span of time the council had set up two vital new industry chapters – Make in India and Agriculture.

 

He said India was streamlining economic processes such as creating a “one nation and one tax” system.

 

“India’s competiveness, ease of doing business had vastly improved and was being driven by the younger generation who formed a large part of the general population. Another important factor was swift transformation and adaptation of new technologies by India,’’ he said.

 

“India sees Australia as a useful partner. Our relationship will go only up and up. I wish all success to AIBC,’’ he added.

 

The event included a lively, interactive session with Peter Varghese AO and Anil Wadhwa, very well moderated by Jim Varghese AM, AIBC National Chair.  This very interesting session brought insights in mutual economic strategies, identified opportunities and a clear common road map moving forward to success.

 

In recognition for her long service and ongoing support to the AIBC, Sheba Nandkeolyar, Past National Chair was honoured with a Life Membership of AIBC.

 

Sheba accepted the honour and especially thanked Neville Roach, who first introduced her to AIBC and Dipen Rughani who invited her to join the NSW Management team. She was very appreciative of Jim Varghese and his support as National Vice Chair when she was the AIBC National Chair, now she loved working with Jim and Sanushka the present Chair and Vice Chair, along with Sameer Arora the current NSW President. 

 

Sheba said she joined the AIBC within two weeks of arriving in Australia almost 20 years ago. She said AIBC was run by volunteers who were passionate about the bilateral relationship.

 

She stated that India was poised to become the world’s second largest economy, and using an analogy of a train, urged Australian businesses to board the train before it was too late.

 

The gala dinner concluded with Sanushka Seomangal, National Vice chair providing the vote of thanks and adding in a lighter vein, “this is the first-time cricket and curry did not get highlighted as common denominator in our mutual economic relationship”.

 

Deloitte, as AIBC National Platinum Partner and NIB, as the State Sponsor for NSW provided great support for this very successful Australia India Address 2019.