Huge scope for Indo-Australia bilateral trade: Dr Gondane

Source: The Hitavada      Date: 11 Dec 2018 10:07:57



Business Bureau,

The High Commissioner of India to Australia Dr Ajay M Gondane on Monday said that there was huge potential for bilateral trade between the two Commonwealth countries. “While Australia has been giving prominence to India as per its new foreign trade policy, India is also putting efforts to reciprocate in a similar manner which is eventually creating new business options for domestic entrepreneurs,” he said.
Gondane was speaking at the seminar at VIA Hall, Udyog Bhawan, Civil Lines organised by the EXIM Forum of Vidarbha Industries Association (VIA) in association with Nagpur First and Ready2Innovate Forum (R2iW). The topic of the seminar was ‘International Business Opportunities for Indian Businesses’.

President of VIA Autl Pande; Secretary Dr Suhas Buddhe; Chairman of VIA EXIM Forum Gaurav Sarda; Nagpur First Secretary Faiz Wahid; Director of Ready2Innovate Forum Pravin Kamble; and Co-Founder of Ready2Innovate Forum Dr Yogita Kasture were seated on dais.
“Though the population of Australia is 25 million, the per capita income of the Australians is more than $ 56,000. It shows shows that the purchasing power of the people in the country is quite high and thus there are good opportunities for India entrepreneurs,” he said.

As of now, India’s exports to Australia is about $ 27 million per annam. However, Gondane said the existing figures of exports are much below the potential. “We can push forward these figures in near future. But to achieve this we need to be very quality conscious and understand their needs,” he said adding that the Indian Government is extending all possible support to those who wish to establish trade relations with Australia.

Gondane further said that Australia is setting on a huge amount of $2.8 trillion under the head of ‘Superannuation Fund’. The fund is generated by the Australian Government along with the citizens to provide them with an income stream when people retire. “Now, the country is exploring opportunities to invest the fund in a country from where it could get encouraging returns. And considering the GDP growth in our country, India could attract big chunk of this fund,” Gondane said. On the other hand, Australia’s interest in Indian businesses has phenomenally grown in the past few years. “They have carried out district level survey in India and also identified areas of their interest for investment. We are also doing similar work and promoting Indians to come forward,” he said appealing the participants to avail assistance of Indian Embassy in Australia.

It is important to note that Gondane belongs to Nagpur. He worked in various capacities in the Indian Embassies and Consulates including in Damascus, Baghdad, Vienna, Ankara and New York. He was High Commissioner of India to Papua New Guinea, Solomon Islands and Vanuatu. He also worked earlier in SAARC, West Asia North Africa, Bangladesh-Myanmar Divisions. He was the Coordinator for the XIV SAARC Summit in New Delhi, 2007. He was Officer on Special Duty with Dy. Speaker, Lok Sabha and a Research Fellow at the Stimson Centre, Washington DC. Recently worked as Additional Secretary (Pol) and Director General of Inspection in the Ministry of External Affairs, New Delhi.