The Hindu Business Line : Energy key area of focus for Australia

Our Bureau Chennai, Nov. 23 India needs to increase focus on Australia, as much as Australia has on India in its trade relations, according to Mr Darren Gribble, Chairman, Australia-India Trade Council.

“Australia looks at India as a first eleven game while India looked at Australia as a second eleven game,” he said, emphasising that bilateral relations between the two countries was fast evolving from the traditional areas of “cricket, curry and Commonwealth.”

Trade shift

Addressing a meeting of the council in association with the Indo-Australian Chamber of Commerce here today, Mr Gribble said that the economic opportunities that India offers is something that is familiar to Australia. In countries that have gone through the development process – Australia has seen it with Korea, Japan and China – where trade shifts focus from basic resources to services and manufactured goods.

With India energy would be a key area of focus in the context of Australia’s reserves of LNG and uranium.

India is fast expanding the range of products that it exports to Australia, from traditional goods like clothing, textiles and footwear to manufactured goods.

Both countries should step up interaction between industry and Governments, Mr Gribble said.

Wide product range

Mr Aminur Rahman, Australian Consul General – South India, said India-Australia bilateral trade has grown from commodity-based relations to one including a wide product range covering education, health, biotechnology, information and communication technology, aviation and aerospace.

The number of Australians involved in different sectors in India was also on the increase indicating the expertise being offered here.

Investments from Australia are set to triple from the current $1 billion.

Education ties

Mr K.M. Mammen, President, Indo-Australian Chamber of Commerce, said that there was a remarkable growth in relationship in the field of education between the two countries. Over 37,000 Indian students were in Australian Universities.

This was also contributing to a regular exchange of writers, academicians, journalists visiting each other countries.

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