Austrade media release

Wednesday, 30 July 2008
 

Indian firms are scoping Australian shores for new business opportunities, a sign of India's emerging strength as an outward investor.  

Group Chairman Mr Kapil Wadhawan from the Wadhawan Group and senior business associates are currently in Australia (Perth & Melbourne) to scope future investment plans.

Austrade has scheduled a full itinerary of business and government meetings during the Group's four day visit.

The Group will also use sport as a medium to do business with an AFL match on Friday night as well as meeting with representatives from Cricket Australia.
 

The Wadhawan Group consists of three entities – HDIL; Dheeraj & East Coast LLC; and Wadhawan Holdings:

• HDIL is one of the largest real estate developers in Mumbai
• Dheeraj & East Coast LLC is the largest Indian real estate developer in Middle East and Australia
• Wadhawan Holdings has a presence in diverse sectors like Housing Finance, Food & Grocery, Hospitality, Food & Beverage, Lifestyle, Real Estate and Education.

Austrade's Senior Investment Manager – India, Mahesh Rathod, says the Australia-India economic relationship has grown steadily in recent years and has the potential to increase considerably as India's economic expansion continues.
 

"For Indian companies, Australia is not only an attractive market in its own right but a springboard for doing business in the Asia Pacific region – the fastest growing in the world," Mr Rathod said.
 

"In recent years India has been seen to increasingly engage in the Asia-Pacific region and there is tremendous potential for Australian and Indian companies to work together in further developing this exciting market."

 
Australia's appeal as an investment destination continues with total stock of foreign direct investment (FDI) from India amounting to A$608 million (over US$500 million) at the end of 2006, representing an increase of 89 percent from the previous year.

 
"This growth clearly signals India's keen interest in Australia as an investment destination," Mr Rathod said.

 
"What we are experiencing is interest in Australia, not only in its resources sector, but from a range of Indian companies as a location for providing significant value add especially in the advanced manufacturing and Information and Communications Technology supply chain and in Australia's biotechnologies capabilities.

Indian investors active in Australia include Bhushan Steel; TAP Oil; Reliance Industries Ltd; Mindtree Consulting; Rolta India Ltd; Dr Reddys Laboratories Ltd; and Ranbaxy Laboratories. Top Indian firms currently doing business in Australia include the Oswal Group;  Aditya Birla Group;  Sterlite Industries; Assam Company; Gujarat NRE Coke; Tata Consultancy Services; Birlasoft Australia; Infosys Technologies; Satyam Computer Services; Polaris Software; Asian Paints; Mahindra; and VISA International.

 
Mr Kapil Wadhawan from the Wadhawan Group and Mahesh Rathod, Austrade Senior Investment Manager – India, are available for interview. 

Media contact

Caroline James 
Mob: +61 413 481 579


For further news and information from the Australian Trade Commission (Austrade) visit www.austrade.gov.au/mediacentre.