EVENT RECAP | Policy Briefing: Roadmap for the Australia - India partnership
How can we play our part in India's growth story?
Ellis Cowan/Asia Society
SYDNEY, Asia Society Australia was pleased to host the High Commissioner of India, Dr A.M. Gondane at KPMG for a roundtable discussion. Bringing together business, not-for-profit, policy and government to talk about the fundamentals for strengthening Australia's relationship with India.
Prime Minister Turnbull's upcoming visit to India will be an opportunity to reframe the discussion about doing business with India. The key lies in changing the conversation from cricket statistics and batting averages to economic growth, Australian business success stories and a focus on the new India - entrepreneurial, tech-savvy and open for business, trade and investment.
Roundtable participants noted that the India opportunity was immense and could look overwhelming to Australian business and institutional investors. Calls were made to break it down, for better articulation of the opportunities within regional markets in India, a clearer understanding of the type of investment and trade that are priorities for India and the incentives and reduction of red tape available to facilitate it. As well as the continued improvements to the banking system, bankruptcy laws and dispute resolution mechanisms which have started under President Modi.
Austalia is well placed to be a major services exporter to India, especially in professional services, technology, higher education and vocational training services, while our appetite for institutional investment in India might be small now, it will steadily grow in line with domestic reforms in India. The real opportunity though may lie in trilateral deals, taking funding from willing regional players and applying Australian expertise to build mutually beneficial projects.
A paper discussing the key takeaways of this roundtable will be published in the coming days.
This event was generously hosted by KPMG Australia.
Asia Society Policy Briefings are delivered to our members by senior diplomats, foreign policy and country experts and offer an insider’s perspective on foreign and economic policy issues and relationships which are critically important for Australia