Tamil Nadu is a significant business destination for Australian companies, Michael Carter, Trade Commissioner and Consul-Commercial for Australia to Southern India, said here on Tuesday.
He was speaking at a seminar on “Doing business and Investing with Australia” organised by the Australian Trade Commission as part of the Australian Government's imitative to strengthen and broaden Australia's commercial engagement with India and enhance the awareness of Australian industry capability among the Indian business community.
Mr. Carter said that Australia could provide “competitive solutions and expertise” both in traditional and emerging sectors for businesses in Tamil Nadu.
Potential involvement
According to him, sector potential Australian involvement in Tamil Nadu includes automotive, education-based learning and skill development, food and beverage and agribusiness, infrastructure and more broadly building and construction, clean energy solutions for energy generation as well as water and waste management, sports, health and medical products and services and training.
“The Australian trade Commission can also assist companies from Tamil Nadu as they look to invest in Australia.”
He pointed out that India was Australia's fourth largest trading partner. Growth in two-way trade had reached Rs.1.1 lakh crore in 2010-11 and “it is expected to reach Rs.2 lakh crore in the next three years.”
Australia is an important investment destination for Indian businesses, he said. Indian investment in Australia had now reached Rs.50,000 crore.
Later, he told reporters that Chennai could be one of the potential investment destinations for Australian companies because of the Special Export Zones near the city. They could look for joint ventures.
