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.
A new decree has been issued in the Taliban for women who do not wear hijab. In Afghanistan's Bal
A shocking piece of news has shaken Maharashtra politics. Maharashtra Deputy Chief Minister and N
Discount is available on Redmi Note 11, the phone has a 5000mAh battery with a stunning camera
Redmi Note 11 Discount Offer: Redmi (Redmi) is getting a great discount on the Redmi Note 11 smar
India vs West Indies 1st ODI Narendra Modi Stadium records Ahmedabad: The first match of the ODI
Take Jaitapur project to Gujarat, says Uddhav
Mumbai, March 9 (IANS) The Shiv Sena on Monday toughened its stance vis-a-vis the BJP on the up
The parents of Air Force Group Captain and Indian astronaut Shubhanshu Shukla became emotional ab
Kaun Banega Crorepati 15: The latest episode of Amitabh Bachchan's quiz show Kaun Banega Crorepat
Due to the fast-growing digitization, almost 50 percent of the marketing sector has shifted from
Lakhs of students across the country who appeared in them are waiting for the results of the annu
IND W vs PAK W Head To Head: India's dominance over Pakistan, 100 percent record in World Cup
India Women's vs Pakistan Womens: The ICC Women's World Cup 2022 is going to start on March 4 wit
