Friday, March 5, 2021

Successful India trip strengthens trade and investment links

Reading Time: 2 minutes154110-sa-brand-logo
The South Australian government recently signed a Memorandum of Cooperation with the Export-Import Bank of India to further strengthen South Australia’s trade and investment ties with India. In Mumbai, as part of a week-long trade mission to India, South Australia’s Manufacturing, Innovation and Trade Minister Tom Kenyon signed the MoC with Mr TCA Ranganathan, the Bank’s Chairman and Managing Director.
“India is one of the largest economies in the world and South Australia is well positioned to support and benefit from India’s growth,” Mr Kenyon said. “This agreement provides the basis for a supportive, mutually-beneficial relationship with the Export-Import Bank of India which will focus on trade, business and investment opportunities”.
The MoC stated that each party has agreed to cooperate in regular exchanges of information on trade, business and investment opportunities between South Australia and India; locating suitable joint venture/trade partners to promote business opportunities and facilitate trade and investment; regular exchange of publications and other investment-related literature; organising seminars/workshops and training and skills development initiatives. “Our strategy emphasises four sectors in which the state’s strengths are aligned to India’s needs, aerospace and defence, energy and natural resources, education and training, and clean technology,” stated Mr Kenyon. Mr Raju Narayanan was recently appointed as Director India by the SA government to lead efforts to shape mutually beneficial business, investment and social relationships with India.
In another event, South Australia’s leadership in using industry clusters to successfully upgrade its manufacturing sector was highlighted at a major international conference in Mumbai on September 23. Mr Kenyon who attended the conference told delegates at a Global Economic Summit in Mumbai that South Australia was witnessing a transformation of its manufacturing industry from ‘traditional’ to ‘advanced’. “South Australia has a robust, diverse and outward looking economy which plays to our natural advantages and strengths,” Mr Kenyon said.
“The State Government’s manufacturing strategy, Manufacturing Works, outlines a pathway for this transition by encouraging high-tech precincts with clusters of businesses sharing knowledge and ideas.
“This reflects a growing international emphasis on bringing together research and industry to foster economic development based on a region’s strengths.
“Clusters spread risk, generate skill development and ultimately increase productivity,” Mr Kenyon said. “South Australia already has several outstanding business clusters, including a naval construction hub, a specialist bioscience hub and an agricultural, wine and food research precinct”.
The SA government has developed an India Engagement Strategy to take advantage of the close economic and cultural ties between India and South Australia.

- Advertisement -

Related Articles


Please enter your comment!
Please enter your name here


Ep 9: What do young Indians want from love?

Growing up in Indian culture, most of us know that love has never been as popular as marriage. Even in the movies, the main...

Ep 8: Indian links in Indigenous Australian poet Ali Cobby Eckermann’s...

To celebrate NAIDOC week 2020 (between 8-15 November) I spoke to Yakunytjatjara poet Ali Cobby Eckermann about her time in India where she taught...

Ep 7: In the case of Sushant Singh Rajput

  The torrid and high-octane Sushant Singh Rajput case has been fodder for Indian people and press for the last few months. The actor’s tragic...

Latest News

Guess The Song rj ekta

LISTEN: Will you be the one to correctly guess this tune?

  Are you good with guessing tunes? Keen ear for rhythm and beats? RJ Ekta might've been able to stump you with this one. She recently...
Dr Michelle Ananda-Rajah twitter thread

Women, what would you tell your school age self?

  Ahead of International Women's Day on 8 March, Monash University's Dr Michelle Ananda-Rajah was asked to speak at a girl's school. The inspiring academic,...
women empowerment

WATCH: Hindi poem about women empowerment

  Ever have those days where nothing is going your way? You feel demotivated and wonder, "what's the point?". The last couple of weeks in Australia...
march 2021 shows and movies

Indian shows and movies to watch in March 2021

  Bombay Begums (Netflix) After the award-winning Lipstick Under My Burkha (2016), director Alankrita Shrivastava is back with another empowering series about women. Set in urban...

Japanese billionaire seeks eight artists for free Moon ride

  Japanese billionaire Yusaku Maezawa has invited eight people to join him for a free ride to the Moon on a SpaceX Starship rocket sometime...