Australia and Indian SMEs have business to explore
The seminar that was organised by the Australian Trade Commission on Winning and Investment in Australia, in Hyderabad, on May 26, 2010 pointed out the areas of growth and prospective collaborations that Indian and Australian enterprises can look to explore.
India is the 14th largest trade partner of New South Wales and their bilateral trade in 2008-09 is worth A $ 2.13 billion. It is said to be an attractive trade and investment destination for Indian businesses including the SMEs. The emerging sectors like the entertainment, financial services, mineral development, pharma and healthcare in the Australian state have potential for the small and big innovative Indian firms.
The business avenues for the Indian SMEs wherein, they can explore opportunities in Australia are associated technology, infrastructural support and R&D assistance in the field of energy and resources, telecom and bio technology. The Indian and Australian SMEs can also co-operate in knowledge based industries such as IT, writing software and developing new programmes among others to emerge as IT super powers in the Asia Pacific region.
At the same time the establishment of a new trade office by the NSW government in Mumbai, Australian small businesses can explore the possibilities of increasing trade relations with their Indian counterparts in diverse sectors.