PA/28/12 19 October 2012
Australia-India CEO Forum gives advice to Governments on ways to boost trade and investment ties ‘Investment Champions’ to help investors to tap business opportunities
NEW DELHI, October 16, 2012. The Australia-India CEO Forum today presented its findings on ways to enhance bilateral trade and investment links to the Hon'ble Prime Minister of Australia, Ms. Julia Gillard and the Hon'ble Minister for Commerce, Industry and Textiles of India, Mr. Anand Sharma.
The second meeting of the Forum was held here and brought together business leaders from both Australia and India.
“At the first meeting we built up our relationships with each other”
said Australian Co-Chair, Mr Lindsay Fox AC, Founder of the Linfox Group. “This time we wanted to focus on outcomes.”
The CEOs announced the creation of two ‘investment champions’ from Austrade and FICCI to help major investors in each country identify opportunities and navigate government processes.
The CEOs recommended that the two countries take up new initiatives to promote skills training. The Co-Chairs took personal responsibility for further work on the transport sector.
The CEOs also agreed to look at ways to enhance mutual cooperation in infrastructure development and to promote services trade.
“We will request our Governments to consider the recommendations we have made” said Indian Co-Chair, Mr. Naveen Jindal, Hon’ble MP & Chairman, Jindal Steel & Power Ltd. (JSPL). “Our work will help to shape future policy directions”, he added.
Australia and India have a strong trade relationship, with $20 billion of two-way trade in 2011. Energy and resources as well as education services are important items in the trade basket.
The CEO Forum was formally launched in May 2011 and met for the first time in March 2012. The two co-chairs are Mr. Lindsay Fox AC and Mr.
Naveen Jindal.
Also participating on the Australian side for the second meeting were:
Mr. Sam Walsh AO of Rio Tinto Iron Ore, Mr. Michael Smith of ANZ Banking Group, Mr Geoff Dixon of Tourism Australia, and Mr Michael Wilkins of Insurance Australia Group.
Participants on the Indian side included: Mr. Ravi Vishwanathan of Tata Consultancy Services, Mr. Ganesa Natarajan of Ennore Coke, Mr Sanjay Pattnaik of Tata Steel and Mr. Biren Nanda, High Commissioner of India to Australia.