Exploring business opportunities in Australia for Indian SMEs

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Exploring business opportunities in Australia for Indian SMEs

Through a partnership between Investment NSW and Indian IT industry body NASSCOM, a series of roadshows in India will highlight business and investment opportunities in Australia for Indian SMEs.

It was launched in New Delhi yesterday and the next stops of the series will be some of India’s largest metropolitan cities: Pune, Bangalore, Chennai, Hyderabad, and Mumbai.

The six-city series will explore New South Wales as a trade destination in terms of location advantage, innovation, availability of skilled workforce, and market size.

“NSW and its capital Sydney are considered the hub of financial technology in Australia,” noted Vish Padmanabhan, Investment NSW Senior Trade and Investment Commissioner.

“Partnering with NASSCOM for these roadshows will hopefully encourage aspiring tech entrepreneurs in both countries to take the leap into another exciting market.”

Currently, the US and UK are the largest markets for the Indian IT industry, which is predicted to touch the $300-350 billion mark over the next five years.

The first session in New Delhi. Source: NASSCOM on LinkedIn

Australian High Commissioner to India Barry O’ Farrell AO was also present at the first session, where he reiterated the exciting opportunities presented by the recently signed India-Australia Economic Cooperation and Trade Agreement (ECTA).

Some of the many benefits promised by the much-discussed trade agreement include:

  • recognition of professional qualifications, registration processes, and licensing between professional services bodies in both countries
  • stronger partnerships in financial, telecommunication, and professional services
  • improved transparency and predictability around Indian domestic regulations for Australian businesses

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