Huge opportunities for Australian companies

19 Jan '08

2 min read

India is keen to export agricultural products and dairy & poultry products to Australia and has asked Australia to facilitate these exports through appropriate market access initiatives and removing non-tariff barriers.

This was conveyed by Shri Kamal Nath, Union Minister of Commerce and Industry, during his bilateral talks with the Trade Minister Mr. Simon Crean.

India is also looking forward to exporting mangoes from April 2008, the Minister added. The meeting was attended by the Commerce Secretary Shri G.K. Pillai; Secretary (DIPP) Shri Ajay Shankar; Director General of Foreign Trade Shri R.S. Gujral and senior officials from various Ministries from both the countries.

Shri Kamal Nath stated that “India is growing and a stable investment climate presents huge opportunities for Australian companies, particularly in energy and infrastructure sectors.

Some of the major Australian companies, which have invested in India are BHP Petroleum Pty Ltd, Telstra Corporation Ltd, Telstra Holding Pty Ltd, Australian India Resources N.L, BHP Steel, BHP Billiton, Rio Tinto, MIM Holdings, Snowy Mountains Engineering Corporation etc.

Australia's investments in India have been US $ 1.92 billion since 1991. Indian investments in Australia are now well over US $ 1 billion and most of these are in the IT sector”.

The bilateral trade between India and Australia has seen a growth of 37.50% between 2005-06 and 2006-07, and the total bilateral trade during 2006-07 is US $ 7932.79 million.

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