Lobby pushes Indian links
Business leaders say there should be strong technological ties between Australia and India.
The two nations enjoy strong political and defence links, but the Australia India Business Council says other forms of trade and investment between the two countries are “not where they should be”.
“India offers scalability that no other country can offer. India has to be viewed as a destination on its own, and not as an alternative to China,” the council’s chairman Jim Varghese has told the Australian Financial Review.
He notes that two-way trade with India - a country of 1.3 billion people - is only slightly more valuable than Australia’s trade with New Zealand - a country of just 5 million.
Mr Varghese says India’s security and IT capabilities are major opportunities for Australian business.
“The huge skill base of young, energetic, and innovative manpower in India combined with lower manufacturing costs offer great advantages to Australian companies,” he said.
“Some foreign technology companies may have perceived ‘trust issues’ which Indian tech companies do not have.
“Prime Minister Morrison and Prime Minister Modi do have a good relationship. Let’s translate that relationship into practical trade and investment outcomes.
“It’s very important for the Australia-India relationship to go beyond cricket, curry and the Commonwealth,” Mr Varghese said.