‘Australia trade relationship with India growing rapidly’

February 13th, 2007

Australia’s trade relationship with India was growing at a rapid pace, top official of a leading finance advisory firm in that country said today Christopher Reid of Bell Potter Securities Ltd, Australia said the 20-member delegation from his country, currently on a 12-day trip to India, was seeking investment opportunities in India.

Bell Potter Securities is a leading financial advisory firm with a strong research base and a large retail network in Australia.

Reid was speaking at a meeting of the Indo-Australian Chamber of Commerce here today.

K Muthukumaran, General Manager, Exim Bank said some of the potential sectors where the two countries could collaborate were IT/ITeS, e-publishing, SME, Infrastructure development, Power, Mining, Oil and gas, water management, food processing, tourism and entertainment.

Outsourcing of clinical trials in R&D, export of bulk drugs were some of the key growth areas, he said.

India’s investment at USD one billion is slightly more than Australia’s investment in India, he added.