On August the 30th we hosted our first Hybrid event in partnership with Newland Global Group. We would like to extend a big thank you to our partner, Newland Global Group, the Consulate General of India for providing a wonderful space for the event, our speakers for sharing their expertise and insights, and finally Arvensys for delivering the technology solution on the night.
The bilateral relationship between India and Australia is at an all time high, recently marked by the establishment of the Australia-India Comprehensive Economic Cooperation Agreement (AI-CECA) in April 2022. In the past few years we have witnessed remarkable growth in the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Two-way trade in goods and services has grown in value from $13.6 billion in 2007 to $24.3 billion in 2020.
We highlighted some of our key takeaways from the event:
- There is strategic and political will to make India into Australia’s key major trading partner
- Now is the time for Australian businesses to leverage movement in India’s economic liberalisation, reform, transformation and sheer scale to grasp economic opportunities
- Australia and India have an alignment of values (world’s largest democracy), culture (e.g. cricket) and economic complementarities (Aus natural resources & India’s IT, MedTech expertise). There is a large and growing India diaspora in Australia that can be leveraged.
- India is a diverse place. This is reflected in its diversity of people, regional economies and government structures.
- There are great opportunities to do business in India across many industries including, technology, infrastructure, healthcare, mining and resources and education.
Please refer to our blogpost to read more about the India-Australia relationship, and the opportunities for Australian businesses in one of the fastest growing major economies: https://pit.org.au/a-focus-on-building-economic-ties-with-india/
Missed out on the event? Re-watch the webinar here:
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