Speaker: Dr Ajay Gondane, India High Commissioner to Australia
Huge scope for Indo-Australia bilateral trade and explore opportunities in Austrialia
: Indian High Commissioner to Australia Dr Gondane urges business, industrial fraternity
Indian High Commissioner to Australia Dr Ajay M Gondane urged the business and trade fraternity of India to explore the opportunities in Australia and never hesitate in raising demand or issue with the high commission, while addressing the gathering during a talk on “International Business Opportunities for Indian Businesses” organised by VIA EXIM Forum in association with Nagpur First & Ready2lnnovate Forum at VIA.
He said, “We are ready to help you. Make more demand seek information about companies there. Tap the opportunities available.” “Australia has tremendous potential. Growth opportunities are immense. The onus is on our trade and industrial fraternity to explore these opportunities and expand their businesses. You should not hesitate in approaching us or raising demand with us,” Dr Gondane said.
“Australians are very transparent in business and transactions. Hence, we have to be very clear about our objective to succeed there. A negative approach or mindset is the main reason behind failure of our firms in Australia. Their standards are fixed and any kind of deviation, even by a small margin, would go against your business. Hence, the attitude that ‘we would take care of it later’ could have negative impact on your business. So to become successful it is important that you should never lose your worth,” he said.
‘Take initiative’ :
Dr Gondane said Australia has an Indian Diaspora of nearly 7 lakh. This shows that Australia has plenty of opportunities. What is needed is to take initiative to tap these opportunities. “We have four offices in Australia but still Indian business fraternity is not utilising us fully. Earlier, I used to lament to the Indian delegation that they are not keen in seeking information about the companies in Australia. However, things have changed a bit now and our business fraternity is showing some interest, but still we need to take a giant leap to tap the opportunities available in Australia, he added.
‘Manufacturing tough due to stringent norms’ :
Dr Gondane further added that manufacturing in Australia is very tough because of stringent norms. “The minimum wage there is very high. For instance, if the labour cost incurred by a manufacturing unit in India is Rs.50,000 per month, it would be manifold in Australia. Besides, environmental norms are also tough,” he said.
‘Need to explore area of interest in Australia’ :
Dr Gondane also emphasized on the need to explore the area of interest to expand business in Australia. “We need to address their need and offer the best deal. India is expanding at a brisk pace and initiatives like ease of doing business, etc. have improved our reputation globally. Our growth rate is between 7 per cent and 7.5 per cent. In coming years, if things go well, we may record growth in double digits. We would have to tap the opportunities available in Australia now because if we wait for long we may end up getting nothing.” he opined.
Dr Gondane said Australia has conducted a thorough study to explore the growth opportunities in India. They visited several cities in the country to identify sectors best suited to them. After this study they prepared a 580 page document.
“Australia has lined up investments worth US $10 billion for India as it is looking for greater cooperation with the country. It is eyeing to increase it to US $100 billion by 2035. Now, we too are working to conduct a study and prepare a report highlighting various areas of interest,” he added.
Dr Gondane further said that Australia is setting on a huge amount of $2.8 trillion under the head of ‘Superannuation Fund’. The fund is generated by the Australian Government along with the citizens to provide them with an income stream when people retire. “Now, the country is exploring opportunities to invest the fund in a country from where it could get encouraging returns. And considering the GDP growth in our country, India could attract big chunk of this fund,” Dr Gondane said. On the other hand, Australia’s interest in Indian businesses has phenomenally grown in the past few years. “They have carried out district level survey in India and also identified areas of their interest for investment. We are also doing similar work and promoting Indians to come forward,” he said appealing the participants to avail assistance of Indian Embassy in Australia.
Dr Gondane further added that Australia has taken its technical and educational standard to a very high level. To match this level, we need manpower, skill, capital business process.
Earlier, the president of Vidarbha Industries Association (VIA) Mr Atul Pande welcomed Dr Gondane. He also delivered welcome address. Hon. Secretary of VIA, Dr Suhas Buddhe welcomed Mr Pravin Kamble, Director of Ready2lnnovate Forum.
The Chairman of VIA EXIM Forum, Mr Gaurav Sarda introduced the speakers. Mr Faiz Wahid, Secretary of Nagpur First proposed formal vote of thanks.
Prominently present were IPP of VIA – Mr Prafull Doshi; Former Vice President – VIA, Prof Ashit Sinha; Convener of VIA Entrepreneurship Forum, Ms Anita Rao, and representatives of industries, exporters and importers.
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