Kolkata, Jan 13 (IANS) With Prime Minister Narendra Modi's visit resulting in a "change of mindset", Australia is seeking Indian investments, a senior industry professional said.
"Modi's recent visit has resulted in furthering the relationship between Australia and India and I see India as a major partner (for Australia) in the coming five years," Stephen Roger, the executive director (APAC region) of global professionals association BKR International, told IANS here.
The major investment areas for Indian firms are in infrastructure, IT, agriculture and property development.
"Indians have the knowledge and skills to turn barren land into productive (agricultural) land. Since middle Australia is mostly arid and desert, there is an immense potential for Indian investment in this sector... we need to bring in expertise in Australia," he said.
According to Roger, who facilitates Indian firms to set up business in Australia, the government is providing various incentives in research and development for Indian firms as well as assisting the companies with major project facilitation (MPF) schemes.
"Our tourism MPF service is growing ten-fold since the last three years and the government is encouraging fresh foreign investment in the country," he said.
The MPF service is an Australian specific programme which extends correct identification and facilitation of government assistance projects to individuals and firms opting to invest in the country.
However, Roger cautioned that even though Indian firms may find it "cheap and easy" to expand to Australia, acquisition as well as winding up operations is tough under the country's law.
"...The issue crops up when somebody wants to acquire a firm in Australia. The government doesn't want outside businesses to take over Australian firms or encourage foreigners to buy them," he said.
According to Roger, if the level of trade engagement continues at the present momentum, Australia will become India's eighth largest trading partner by 2020 from its existing figure at fourteen.
The electoral atmosphere in West Bengal is getting even hotter with each step. Who will win, whos
US officials said need to hold Pakistan PM Imran Khan accountable for Taliban
US Retired General HR McMaster has said that Pakistan's PM Imran Khan needs to be held accountabl
To end the Corona epidemic, the campaign to apply the vaccine has started. The world's largest va
Gandhians Hurt over Government's Silence over Divisive Forces
New Delhi, Jan 16 (IANS) Witnessing the danger of India's unity in diversity and the spirit of
With the onset of monsoon, most of the states of the country are receiving heavy rains. The Meteo
Punjab CM Bhagwant Mann (48) has a second marriage on Thursday. He will take rounds with Dr. Gurp
Bihar assembly sees protest over remarks on Smriti Irani
Patna, March 17 (IANS) Legislators of the opposition BJP on Tuesday created a ruckus in the Bih
The fifth and last match of the five-match Test series between India and England is being played
Apple released the first iOS Rapid Security Response, this update came for bug fixes and security
Apple has released a new rapid security update for iPhones running iOS 16. The latest software pa
Peace has not returned to the Valley even after two and a half years after the abrogation of Arti
