Thaindian News

Chandigarh, April 22 (IANS) The Australian Trade Commission, Austrade, Thursday announced its new office in Chandigarh to forge trade and investment linkages with the three north Indian states of Punjab, Haryana and Himachal Pradesh.
Trade Commissioner Michael Carter said here that Austrade, the trade and investment agency of the Australian government, will have a representative in Chandigarh as the city is a gateway to the three states.

Austrade signed a Memorandum of Understanding (MOU) with the Confederation of Indian Industry (CII) to encourage bilateral trade and investments and provide business development opportunities to the industry based in north India.

“Sectors of potential Australian involvement in Punjab, Haryana and Himachal Pradesh include food and beverage, hospitality, infrastructure, building and construction, clean energy, mining and resources, agri-business and education. The Australian Trade Commission also welcomes businesses and entrepreneurs from the northern India to invest in Australia,” Carter, who signed the MOU, said.

Despite the bad press Australia got in recent months after repeated acts of violence against Indian nationals living in that country, trade representatives from Australia see huge potential for increased trade between the two countries.

“Australia is amongst the most significant investment destination for India. In 2009-10, the Australian Trade Commission facilitated more than AUD (Australian Dollars) 700 million investments from Indian into Australia in the tourism, hospitality, mining, aviation, ICT and education sectors,” Carter added.

Austrade will explore potential joint venture partnerships with companies in north India.