Governments hope to prevent another false dawn in bilateral trade and investment by getting business to work on policy.
Already a subscriber?Leading CEOs from Australia and India are developing policy recommendations for the leaders of the two countries that include encouraging more Australian superannuation funds to invest in Indian infrastructure, improving Indian companies’ access to Australia’s critical minerals, and aligning higher education syllabuses.
The business leaders also want to boost access for Australian agricultural technology to help India develop more sustainable farming techniques, as India looks to Australian resources and capability to help drive Mr Modi’s net-zero ambitions.The secretariat of the forum is the Business Council of Australia, whose chief executive Bran Black will travel to India next week to finalise the draft recommendations.
Jodi McKay, former NSW opposition leader who leads the forum, will also be on the trip. The pair will meet the Confederation of Indian Industry, as well as Australian companies operating in India, including Commonwealth Bank, ANZ, National Australia Bank, Macquarie and Telstra. In February, she met with forum co-chair Anish Shah, CEO of Indian conglomerate the Mahindra Group, which “reaffirmed our joint commitment to drive the forum forward ahead of our annual meeting to be held later this year,” Ms Wikramanayake said.
ANZ CEO Shayne Elliott is a member of the forum’s finance working group, which is chaired by Verena Lim, CEO of Macquarie in Asia, and also includes AustralianSuper chief Paul Schroder. With India seeking foreign capital to support its infrastructure boom, Australian investors are keen to reduce risks including from its underdeveloped legal system.
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