He also spoke about the trends that are influencing Australian companies to focus on India.
What are the key parameters for Australian investors who opt to invest in Indian businesses?
Although the parameters considered by different businesses are different, exclusive to the specific requirements of investors, on a broader level, investors look for businesses which are well focused on their target markets. Relevance of the products and services is also a very important parameter which considered.
Collaboration between Indian and Australian companies can happen only if both converge on a single platform and decide to move ahead for a mutually beneficiary goal. In India, there are several industry segments which possess great potential, both in terms of talent and market.
What are the key challenges faced by Australian investors? Reaching out to the right people is a major challenge. Developing a mutually beneficial synergy is also an area of concern, where lot of efforts need to be made. How does Austrade help Australian investors to explore the Indian market?
We have a presence in 11 cities in India. The idea is to reach out to maximum number of businesses, and make them aware of the opportunities available to them of working with Australian companies. On account of the geographical diversity that India has, we focus on multiple locations and markets. We are always hunting for appropriate partners in order to enhance our market outreach.
Our offices in New Delhi, Mumbai, Chennai, Bangalore, Hyderabad and Kolkata provide indispensable local information and advice, and are in tune with local businesses. These offices also advice Australian investors on business strategy for the region and market entry strategy, and also assist them in in-market representation in India.
What are the areas in which synergy can be built?
There are several areas which could bring Indian and Australian companies together. Research and development (R&D) is one such area. Australia’s R&D expertise can add great value to Indian SMEs. This is an area where a lot of action is happening. There are various other industry sectors in India which are appealing to Australian investors, like manufacturing, minerals, engineering, construction, water and services.
What trends do you foresee in the synergy between Indian and Australian companies?
In the past few years, Indian businesses have become very aggressive in new areas and innovation. There are a few emerging areas like food security, water, defence and healthcare, which are becoming great opportunities for smaller companies operating in India. I witness these trends as important spots for synergy with Australian companies.