India is emerging as a strategic partner for Australia, thanks to its diversity

Australian businesses at all levels now have an unrivalled opportunity to view India as a market to supply rather than just a market for consumption

By Jim Varghese

On August 15, Monday, We have marked 75 years of Independence of India as it gained freedom from the British on August 15, 1947.

As the Indian community globally has celebrated the 75th Independence Day along with millions of friends of India throughout the world, it is time to reflect on the importance of this day, the history of India, and the sacrifices made by millions of people to obtain independence. The Indian Flag reflects multicultural integration, Harmony, and Peace

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India with many multicultural communities is a great example of Unity in Diversity

Over 700, 000 people the fastest growing Indian diaspora will be celebrating Indian Independence Day in Australia. This Indian diaspora with an average age below 40, is contributing significantly in Australia to entrepreneurship in a number of industry sectors identified in the India Economic Strategy by Hon. Peter Varghese and Australia Economic Strategy by Ambassador Anil Wadhwa.

The biggest advantage of the growing Indian diaspora is the high skill level of men and women which is driving their contribution to the economic growth of Australia in many fields such as education, health, manufacturing, finance, agriculture, startups, Information and Communication technologies. In line with the above bilateral economic strategies, the increasing people-to-people connection is providing further momentum to the cultural and economic relationship and bonding between India and Australia.
India has been and will continue to be a major partner in Australia’s economic growth.  The cultural and economic engagements with India have always received bipartisan support in Australia during last many decades.

In fact, India is emerging as a strategic partner for Australia

Australian businesses at all levels now have an unrivalled opportunity to view India as a market to supply rather than just a market for consumption.

The recently signed AUSTRALIA INDIA ECONOMIC COOPERATION AND TRADE AGREEMENT(ECTA) enhances the partnership between Australia and India. It will generate trade in many sectors in the next few years.

The AIBC is very encouraged by this important development which we have been passionately driving and supporting for over a decade.

The initiative by the Prime Ministers of India and Australia to establish the AIBC over 35 years ago to assist in making these milestones happen is now positively vindicated.
To effectively support bilateral trade, AIBC has established many Industry chapters and more recently the Australia India Business Enterprise Ltd (AIBE), as its commercial arm to focus on and facilitate business-to-business engagements.

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The recent QUAD strategic agreement also places India and Australia on the same page in cooperation and partnership in Defence and Security. To effectively support emerging opportunities, AIBC has also established a Defence & Security Industry Chapter.

Commemorating 75 years of Independence and the history of India’s people, culture, and achievements, AIBC has organised its inaugural Australia India International Business Summit in Sydney between 23-25 August 2022.

This will be an exciting opportunity for Australian corporations and industries to consider India for partnering and achieving business-to-business outcomes.

With there no boundaries to the India-Australia relationship, AIBC applauds the Australian Indian community for celebrating the 75th Indian Independence Day.

On behalf of all AIBC Members and Team, I greet all Indian community members with a “Jai Hind” on this very important milestone and a great occasion.
Author: Jim Varghese AM is National Chair of Australia India Business Council