Australian cities seek Indian investments
Seeking Indian investments, delegations from two Australian cities, Melbourne and Ballarat, Tuesday held interactive meetings here with leading investors and highlighted possibilities they offer.
NEW DELHI: Seeking Indian investments, delegations from two Australian cities, Melbourne and Ballarat, Tuesday held interactive meetings here with leading investors and highlighted possibilities they offer.
At the interactive organised by the Confederation of Indian Industry (CII), the delegation from Melbourne, led by councilor Fiona Snedden, discussed possible collaborations in information and communications technology (ICT), mining, manufacturing and entertainment and also offered assistance in the run-up to the 2010 Commonwealth Games being hosted here.
Given Melbourne's experience of hosting the 2006 Commonwealth Games, Snedden said: "Melbourne can assist India in organising the 2010 Games in New Delhi."
She highlighted that Melbourne has a fund that supports the economic and business development, and helps in making it a connected, accessible, innovative and vital business city.
With the success of Bollywood film "Salaam Namaste" shot in Melbourne, joint ventures in film production, related software and post-production were highlighted among areas of cooperation.
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The team from the neighbouring city of Ballarat, led by the city's mayor councillor David Vendy, focused on small and medium industries, ICT, education and food processing. A gold-rush town, Ballarat is one of Australia's largest inland cities and home to several large ICT companies such as Telstra, Neighbourhood Cable, Chariot NetConnect and IBM Global Services as well as leading processed foods companies.
In March this year, Ballarat had hosted a business delegation led by the CII to Australia coinciding with the Commonwealth Games in Melbourne.
The City of Ballarat and CII (small and medium enterprises division) Tuesday signed a memorandum of understanding under which they would partner in the India Global Summit on SMEs in the capital from Nov 22-23.
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The event is being organised by CII in association with the Indian ministry of small scale industries. Australia has become an increasingly important economic partner for India, with bilateral trade at $5.8 billion in 2005-06.
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Many Australian companies have outsourced call-centre and IT work to India and several others have invested in India in mining, port development, chemicals, entertainment and breweries.Similarly, many major Indian companies like NIIT, HCL, TCS, engineering companies such as Dastur Engineering International and hospitality companies including Oberoi Hotels International have operations in Australia.
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