ARCHIVED MEDIA RELEASE
PA/28/2004 7 December 2004
CII and Australia join hands to promote agri-business
The Confederation of Indian Industry (CII) and Austrade, the export facilitation arm of the Government of Australia, have joined hands to promote agribusiness between Australia and India.
Announcing the launch of the "Partnering Australia for Business” Program at CII's Agro Tech 2004 exposition in Chandigarh on 4 December, Mrs Michelle Marginson, Chargé d’Affaires, Australian High Commission, said that the initiative should help strengthen trade ties between the two countries.
Mrs Marginson said that North India could become a hub for Australian companies wishing to invest in India. “Australia is one of the world’s leading agricultural economies and with agriculture the mainstay of the North Indian States, the tie-up between Austrade and CII makes good business sense,” Mrs Marginson added.
Referring to the bilateral trade between the two countries, Mrs Marginson said that, in 2003-04, Australian exports to India were around A$ 4.9 billion, which was around 4.5 per cent of Australia’s total global exports. “Food processing, food transportation and handling, farm equipment, are some of the sectors that can be explored for joint ventures between Australian and Indian companies,” she said.
Mr Y.C. Deveshwar, Chairman, Agro Tech 2004 and Vice President, CII, said that more mutual trade could be an instrument of development for both countries. Referring to the WTO, Mr Deveshwar said, “India has already started implementing its obligations under the multilateral trading system to meet emerging challenges. If trade is to grow between the two countries and lead to development, we need to establish more contacts and open fresh lines of communication. Agro Tech is the right place to cement such contacts.”
Mr Mike Moignard, Senior Trade Commissioner, Austrade, said that India was the seventh largest market for exports from Australia. Businesses from Australia and India had each invested over A$1 billion in the other’s economy. Mr Moignard noted that “Austrade was enhancing its presence in India and the new business partnership program would provide opportunities for Indian companies and others to benefit from Australian expertise." There were already over 140 joint ventures successfully working between Indian and Australian companies, he added.
Welcoming participants, Capt Alok Sharma, Immediate Past President, CII Himachal Pradesh State Council, said that CII endeavoured to create and sustain growth. Partnering Austrade was a step forward in CII’s mission. Mr Manish Bagrodia, Chairman, CII Punjab State Council, said that commonalities between the two countries as well as values and interests shared by them provided the basis for a comprehensive relationship.
For additional details, please contact, Mr Mike Moignard, Senior Trade Comimissoner, Australian High Commission, on 51399901.