Say Hello To The Good Times!
If you're Indian with a keen interest in Australia or vice versa, you couldn't be living in better times. Bilateral trade between the two countries is booming like never before and presently stands at a whopping AUD 22 billion. Underpinned by trade and investment, the scope of Australia's relationship with India is constantly increasing in line with India's rapid economic and strategic growth - Australia is already India's fifth largest source of imports.
Earlier this year, in an important economic reform, the incumbent Julia Gillard Government overhauled Australia's trade policy, re-connecting with the Hawke-Keating philosophy of free and open trade. The trade strategy embraces five principles: the pursuit of ongoing, trade-related economic reform without waiting for other countries to reform their trade policies; non-discrimination among countries in trade negotiations; foreign policy considerations not overriding trade policy; transparency in free trade negotiations; and the seamless execution of trade policy and wider economic reform.
Refreshingly, we are witnessing significant Indian investment coming into Australia like never before. Last year, the Adani Group made headlines with its AUD 1 bn purchase of Australian firm Linc Energy's coal assets in Queensland in the coal area of the Galilee Basin - the biggest single investment by an Indian company in the Australian mining sector.
Even so, this isn't a case in isolation. Two years ago, Petronet LNG struck a path-breaking deal with ExxonMobil worth AUD 25 bn over a 20 year period. There have been four major Indian investments in Western Australia in the last eight years: The Oswal Group promoted Burrup Fertilisers set up an ammonia plant in Karratha; Indian infrastructure major Lanco Infratech bought over Griffin's coal mines; Hindalco purchased the Nifty Copper Mine in the Great Sandy Desert; and now final negotiations are on for the Perdaman Fertiliser Plant in Collie. In South Australia, Indian wind-power company Suzlon has a strong presence. Santos, a major gas producer from SA, has involvements with India's Reliance. In the Illawarra region in New South Wales, Indian mining major Gujarat NRE is in the process of expanding its investment. In Sydney, you'll find offices of some of the leading IT and ICT players from India, including Wipro and Polaris. Three of India's leading banks - State Bank of India, Union Bank of India and Bank of Baroda - and reinsurance biggie New India Assurance have already etched their stamp. And earlier in September, Punjab National Bank had a spectacular launch.
From an educational standpoint, there's some good news. Following the slide in international student numbers, the Australian government has decided to relax visa norms further. It has accepted the recommendations made by the 'Knight Review', including similar assessment level for all international students regardless of their country of passport. The proposed changes would also see introduction of a new work visa for international students once they have finished their studies. The post-studies work visa is likely to be of two to four years' validity depending upon the level of studies completed by the international student in Australia.
Whichever way you look, the writing on the wall is loud and clear. The two partners located on opposite sides of the Indian Ocean Rim share closer bonds today than ever before. Whether you are a diplomat, investor, student or tourist, there's a bouquet of opportunities out there on offer. Now's the time to go and grab some!
Capital: Canberra
Largest City: Sydney
Other Major Cities: Melbourne, Brisbane, Perth, Adelaide, Gold Coast, Sunshine Coast, Newcastle, Wollongong, Hobart
Demonym: Australian, Aussie
Main Language: English
Main Religion: Christianity
Government: Federal Parliamentary Democracy & Constitutional Monarchy
Head of State: Queen Elizabeth II (since 6 February 1952)
Prime Minister: Julia Gillard (since 24 June 2010)
National Anthem: Advance Australia Fair
Royal Anthem: God Save the Queen (or King)
National Day: 26th January
Area: 7,617,930 sq km
Coastline: 25,760 km
Population: 22,718,381 (2011 est) Main Exports: Ores and metals; wool, food and live animals; fuels, transport machinery and equipment
GDP (PPP): $882.362 bn (2010)
Currency: Australian Dollar (AUD)
1.00 AUD = 48.3173 INR
1.00 AUD = 0.990101 USD
Time Zone: GMT+8 to +10.5 (Summer GMT+8 to +11.5)
National Animal: Kangaroo, Koala
National Bird: Emu
National Flower: Golden Wattle
Driving: On the left
Internet TLD: .au
Calling Code: +61
If you're Indian with a keen interest in Australia or vice versa, you couldn't be living in better times. Bilateral trade between the two countries is booming like never before and presently stands at a whopping AUD 22 billion. Underpinned by trade and investment, the scope of Australia's relationship with India is constantly increasing in line with India's rapid economic and strategic growth - Australia is already India's fifth largest source of imports.
Earlier this year, in an important economic reform, the incumbent Julia Gillard Government overhauled Australia's trade policy, re-connecting with the Hawke-Keating philosophy of free and open trade. The trade strategy embraces five principles: the pursuit of ongoing, trade-related economic reform without waiting for other countries to reform their trade policies; non-discrimination among countries in trade negotiations; foreign policy considerations not overriding trade policy; transparency in free trade negotiations; and the seamless execution of trade policy and wider economic reform.
Refreshingly, we are witnessing significant Indian investment coming into Australia like never before. Last year, the Adani Group made headlines with its AUD 1 bn purchase of Australian firm Linc Energy's coal assets in Queensland in the coal area of the Galilee Basin - the biggest single investment by an Indian company in the Australian mining sector.
Even so, this isn't a case in isolation. Two years ago, Petronet LNG struck a path-breaking deal with ExxonMobil worth AUD 25 bn over a 20 year period. There have been four major Indian investments in Western Australia in the last eight years: The Oswal Group promoted Burrup Fertilisers set up an ammonia plant in Karratha; Indian infrastructure major Lanco Infratech bought over Griffin's coal mines; Hindalco purchased the Nifty Copper Mine in the Great Sandy Desert; and now final negotiations are on for the Perdaman Fertiliser Plant in Collie. In South Australia, Indian wind-power company Suzlon has a strong presence. Santos, a major gas producer from SA, has involvements with India's Reliance. In the Illawarra region in New South Wales, Indian mining major Gujarat NRE is in the process of expanding its investment. In Sydney, you'll find offices of some of the leading IT and ICT players from India, including Wipro and Polaris. Three of India's leading banks - State Bank of India, Union Bank of India and Bank of Baroda - and reinsurance biggie New India Assurance have already etched their stamp. And earlier in September, Punjab National Bank had a spectacular launch.
From an educational standpoint, there's some good news. Following the slide in international student numbers, the Australian government has decided to relax visa norms further. It has accepted the recommendations made by the 'Knight Review', including similar assessment level for all international students regardless of their country of passport. The proposed changes would also see introduction of a new work visa for international students once they have finished their studies. The post-studies work visa is likely to be of two to four years' validity depending upon the level of studies completed by the international student in Australia.
Whichever way you look, the writing on the wall is loud and clear. The two partners located on opposite sides of the Indian Ocean Rim share closer bonds today than ever before. Whether you are a diplomat, investor, student or tourist, there's a bouquet of opportunities out there on offer. Now's the time to go and grab some!
Australia At A Glance
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Largest City: Sydney
Other Major Cities: Melbourne, Brisbane, Perth, Adelaide, Gold Coast, Sunshine Coast, Newcastle, Wollongong, Hobart
Demonym: Australian, Aussie
Main Language: English
Main Religion: Christianity
Government: Federal Parliamentary Democracy & Constitutional Monarchy
Head of State: Queen Elizabeth II (since 6 February 1952)
Prime Minister: Julia Gillard (since 24 June 2010)
National Anthem: Advance Australia Fair
Royal Anthem: God Save the Queen (or King)
National Day: 26th January
Area: 7,617,930 sq km
Coastline: 25,760 km
Population: 22,718,381 (2011 est) Main Exports: Ores and metals; wool, food and live animals; fuels, transport machinery and equipment
GDP (PPP): $882.362 bn (2010)
Currency: Australian Dollar (AUD)
1.00 AUD = 48.3173 INR
1.00 AUD = 0.990101 USD
Time Zone: GMT+8 to +10.5 (Summer GMT+8 to +11.5)
National Animal: Kangaroo, Koala
National Bird: Emu
National Flower: Golden Wattle
Driving: On the left
Internet TLD: .au
Calling Code: +61
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