Latest Business News...
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Leighton wins A$650m India contracts
Construction and contract mining group, Leighton Holdings, has won two infrastructure contracts in India worth $ 550m (A$ 650m) – the Chennai-Nashri road tunnel in Jammu (northern India) worth $ 500 million and the Vizag Port extension worth $ 45 million.
The 9km, two-lane Chennai-Nashri tunnel is expected to be one of the longest road tunnels in Asia. The construction work is scheduled to take around four and a half years to complete.
The Vizag Port Expansion will widen the Port’s existing 350 metres general cargo berth by 21 metres for coal unloading, provide foundations for 2.5 km of conveyor gallery and build a new stockyard and administration building with project completion by the middle part of 2012.
Leighton’s Managing Director for India, Mr. Russell Waugh said that the Indian market offers great expansion opportunities for the company and he expressed confidence that “we are well positioned with a strong mix of international experience and local knowledge to capitalize on the pipeline of projects coming forward over the coming years”.
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Air India to fly direct daily between Melbourne and Delhi
Victoria is the first state to have secured India’s national airline to fly daily direct services between Melbourne and Delhi in a significant move that will further strengthen trade and cultural ties between Victoria and India. Premier John Brumby and Industry and Trade Minister Jacinta Allan has signed a deal with Air India to fly daily direct services between Melbourne and Delhi out of Melbourne Airport, starting from 1 November this year.
Mr Brumby said Air India’s decision to make Melbourne the destination for its first direct international flights to Australia was recognition of Victoria being Australia’s premier destination for Indian tourists and businesses. “Air India will also be establishing their regional headquarters in Melbourne. This Air India deal will create up to 78 jobs and see up to 123,000 new tourist and business arrivals from India to Victoria each year,” Mr Brumby said.
Ms Allan said Air India’s arrival in Victoria highlighted the competitive strengths of Melbourne Airport compared to its interstate equivalents. “Melbourne Airport is Australia’s major around-the-clock, curfew-free international airport, accommodating international carriers at about half the operating cost incurred at Sydney,” she said.
Mr. Geoffrey Conaghan, Victoria’s Commissioner to India, said, “The Victorian Government Business Office in India takes pride in welcoming Air India to Melbourne. Air India’s decision to operate non-stop services to Australia will make it the only airline flying direct between Australia and India. Air India’s decision choosing Melbourne as their hub for Australian operations makes great business sense and gives the airline the ability to leverage the strong growth in passenger numbers on the Melbourne – India sector and will reposition India as the preferred stopover for tourists on the high volume Europe – Australia ‘Kangaroo Route’”.
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New Australian Consul Generals for Chennai and Mumbai
The Australian Government has announced the appointment of Mr. David Holly as Australia’s new Consul General in Chennai and Mr. Stephen Waters as the new Consul General in Mumbai.
Mr. Holly replaces Mr. Aminur Rahman, who has served with distinction as the Consul General and Trade Commissioner since January 2007. He is expected is take up his appointment in September 2010. Mr. Holly is a senior career officer within the Department of Foreign Affairs and Trade. Mr. Holly has extensive experience within the Department and has served as Deputy High Commissioner, India. He also served overseas in Singapore and was an Exchange Officer with the Canadian Department of Finance, Ottawa. Mr. Holly has also worked for the Department of the Prime Minister and Cabinet, the Department of the Treasury and Fay Richwhite Merchant Bank. Mr. Holly holds a Bachelor of Economics Degree from the Australian National University
Mr. Waters replaces Mr. Peter Forby, who has served as Australia’s Consul General and Trade Commissioner in Mumbai since July 2006. Mr. Waters is a senior career officer with the Department of Foreign Affairs and Trade and was most recently Assistant Secretary, Pacific Engagement Taskforce, a position he held since 2008. Mr. Waters has extensive experience within the Department and has previously served overseas as High Commissioner, Vanuatu with other postings to the Australian Commerce and Industry Office in Taipei, Hong Kong, Cambodia, Thailand, Venezuela, Pakistan and Nigeria. Mr. Waters holds a Bachelor of Arts Degree with combined Honours in Oriental Studies and Political Science from Melbourne University.
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Indian Mission to Fine Food Australia in Melbourne, 13-16, September 2010
The State Government of Victoria will take a delegation of Indian buyers to the Fine Food Australia exhibition at Melbourne from 13 – 16 Sept 2010. The delegation is restricted to buying personnel from supermarket chains or importers and distributors interested in sourcing Victorian produce for the Indian market. Victoria is the food bowl of Australia and its dairy industry is a global leader. The Victorian Government will host the delegation and will bear some of the in-country expenses in addition to facilitating their visit to the show and fixing meetings with Victorian food producers and exporters. Those interested in participating in this mission should contact the chamber as places are very limited.
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SRM inks pact with La Trobe
SRM University has signed a Memorandum of Understanding (MoU) with Australian University, La Trobe, for co-operation in civil, electrical and electronics, and software engineering at the graduate and post-graduate level.
SRM University authorities said the objective of the MoU was to promote joint education and research by exchange of students and staff and to foster this exchange the students would be exempted from application, tuition and admission fee. Under this programme, students would spend half their tenure in SRM and then move on to La Trobe in Australia and obtain the relevant degree.
Mr. Brian McGraw, Dean, Faculty of Science, Technology and Engineering of La Trobe University signed the MoU and exchanged documents with Mr. N. Sethuraman, Registrar, SRM University and Mr. M. Ponnavaiko, Provost and Chief of Academics.
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Australian company designs the special lighting on Napier Bridge
The special lighting arrangement on the Napier Bridge in Chennai, which was inaugurated by the Deputy Chief Minister of Tamil Nadu, Dr. M.K. Stalin, on 28th July, was designed by a Sydney-based firm, LDP Lighting.
The Rs.1.62-crore special lighting effects with as many as 464 special bulbs, gave an illusion of the bridge floating on the River. The lights and fixtures covered the outer arch, inner arch, edge, bottom, road and pedestrian pathways of the bridge. The 149-metre-long bridge has 6 bowstrings and 2-metre-wide footpaths.
Napier, the Governor of Madras Presidency, built the iron bridge across River Cooum in 1869. A new bridge was built in 1999 with a 10.5-metre-wide carriageway on the western side. The eastern side carriageway is 9.75 metre in width.
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Mr. Peter Forby takes over as the new Regional Director for WATO
Mr. Peter Forby has taken over as the new Regional Director of Western Australian Trade Office (WATO), based in Mumbai. The Western Australian Government established a trade office in Mumbai in 1997 with the objective of promoting and attracting Indian investment into Western Australia and supporting the export of Western Australian products and services to India. Mr. Forby was till recently the Australian Consul General and Trade Commissioner for Western India and he replaces Mr. Simon Johnson.
Mr. Paresh Shah, who was till recently the Acting Regional Director, has been re-designated as Trade Commissioner.
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Julia Gillard – Australia’s first woman Prime Minister
Julia Gillard was sworn in as Australia’s first woman Prime Minister on Thursday, June 24, 2010. Ms. Gillard was Deputy Prime Minister under Mr. Kevin Rudd, who had led Labour party to a remarkable victory in the last federal election in November 2007.
Ms. Gillard was born in Wales and, as a child, migrated to Australia with her family in 1966. She studied arts and law and later worked for some time as a solicitor with a law firm. She was elected to the Australian House of Representatives in 1998.
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New AIBC Team takes charge
The National Executive Committee of the Australia India Business Council (AIBC) has elected Mr. Trevor O’Hoy as the National Chairman and Mr. Ravi Bhatia as National Vice Chairman for a period of two years at its AGM held on 10th June 2010.
Mr. Trevor O’Hoy was until recently the President and CEO of Fosters having been Managing Director of Carlton and United Breweries. He is currently a Director of a number of companies and organizations, including, RACV, Cricket Australia and Cricket Victoria, etc., A Graduate of IIT, New Delhi, Mr. Ravi Bhatia is the CEO and Founder of Primus Australia, one of the largest telecommunications companies in Australia.
Mr. Brian Hayes, QC is the Immediate Past Chairman of AIBC from June 2006 to June 2010.
The State Chapters of AIBC are headed by its Presidents as follows:
Mr. John Pereira – AIBC (VIC) Mr. Dipen Rughani – AIBC (NSW) Mr. Eli Bernstein – AIBC (WA) Ms. Natasha Malani – AIBC (SA) Mr. Arun Sharma – AIBC (QLD) and Mr. Deepak-Raj Gupta – AIBC (ACT)
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Mahindra Aerospace to invest in Australian companies
Mr. Anand Mahindra, Vice-Chairman of the Mahindra Group, which recently acquired two Australian companies – Gippsland Aeronautics, a manufacturer of small aircraft and Aerostaff, an aircraft component manufacturer - announced that the company would lend its brand, reach and provide finance to GippsAero to reach markets in many countries in the world. The company would invest Rs. 150 crores in Aerostaff and Rs. 100 crores in GippsAero in the next couple of years. He was speaking at an event to welcome the arrival of GippsAero Airvan, a single-engine aircraft in Bangalore.
Mahindra Aerospace would like to use GippsAero’s facilities to manufacture 8/10/14 seater turboprop aircraft. He said GippsAero had an order book of about 20 planes a year, mainly 10 to 14 seaters. While Kotak Private Equity and Mahindra Aerospace Pvt. Ltd. Hold 75% of the equity in GippsAero, the two entities will be in full control of Aerostaff, which manufactures sheet metal components and assemblies for aircraft.
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IBS Software and Qantas tie-up for cargo solution
Australia’s national carrier, Qantas, has become the latest international airlines to implement the cargo movement solutions from IBS, a leading provider of travel, transportation and logistics products, based at Technopark in Trivandrum.
Qantas has deployed the new-generation solution in its international air freight division, Qantas Freight. Through this deployment, the airline has successfully moved its global cargo sales, reservations and capacity management functions to IBS’ iCargo platform.
The migration to ICargo is a key milestone for Qantas in its multi-million dollar Freight Futures business transformation programme, aimed at differentiating itself from peers by delivering improved services to its customers.
“Having partnered with us during the building of the solution, Qantas’ choice of iCargo for Freight Futures is an endorsement of our joint vision to create the most definite cargo management system for the air transport industry,” said Mr. V.K. Mathews, Chairman and CEO, IBS Group.
Twenty-one global customers (airlines and airports) have signed up for IBS’ iCargo since its launch five years ago.
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Indian company receives CeBIT Australia Business Award 2010
The CeBIT Exhibition and Global Conference Series is the largest event of its kind in the Asia-Pacific region, bringing together exhibitors, visitors and delegations from countries all over the world to discuss the latest innovations in the Information and Communications Technology (ICT) industry.
Angler Technologies, an Indian offshore software development company based in Coimbatore, received the CeBIT Australia Excellence in Location Based Services Award 2010. Neo Soft Technologies from Mumbai also participated in this event.
The CeBIT Australia Business Awards recognize outstanding achievement in the ICT industry. The Awards were declared for the following companies in eight categories:
● Triple Clod - Business Advantage Award 2010 – (SEO software and website audit) ● Fonality - Communications Award 2010 –(premise-based and hosted phone systems) ● Motorola - Advanced Retail Technology Award 2010 –(communication equipments & solutions) ● sitecore - Excellence in New Media Award 2010 –(web content management system) ● McAfee - Innovative IT Security Award 2010 –(antivirus and intrusion prevention solutions) ● National ICT Australia - Early Innovators Award 2010 – (ICT research) ● Pronto Software - Excellence in Technology Services Award 2010 – (ERP software) ● Angler Technologies - Excellence in Location Based Services Award 2010
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Australia’s new nation brand: “Australia Unlimited”
Hon. Mr. Simon Crean, the Australian Trade Minister, has recently announced Australia’s new national brand, Australia Unlimited in Sydney and later in the Australian Pavilion at the Shanghai World Expo on May 20, 2010.
Brand Australia is a four-year, $20 million programme announced by the Australian Government in August 2009 to promote Australia as a innovative nation, a valued global citizen and a trusted business partner. It is being developed and implemented by the Australian Trade Commission (Austrade).
“We need to market ourselves better to the world. Australia is known as a great place to have a holiday but it is also a great place to do business, a great place to invest and a great place to pursue an education,” said Mr. Crean.
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Australia announces $2.4. million grant for research in India
Australia has announced a $2.4 million funding to support research in biotechnology in India. According to an official release, scientists will receive funding for research in biotechnology, biofuels, vaccines and medical diagnostics as part of a joint multi-million dollar programme with India. The Indo-Australian Biotechnology Fund is part of the $65 million Australia-India Strategic Research Fund.
Australian Minister for Innovation, Industry, Science and Research, Senator Kim Carr said, eight collaborative projects between Australian and Indian scientists would receive $2.4 million. The Indian Government will provide a similar amount to fund the project. “This funding will further strengthen the important bilateral relationship between Australia and India”.
Other projects supported by the fund are in nutraceuticals, functional foods and bioremediation.
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HCL Technologies enters into pact with Stellar Asia Pacific
Indian IT firm, HCL Technologies, has entered into an agreement with Business Process outsourcing (BPO) firm, Stellar Asia Pacific, to offer business services to new and existing clients in Australia. “As per the agreement, HCL and Stellar will target new industries and provide an expanded offering to both new and existing clients in the Australasian market”, Stellar Asia Pacific CEO, Mr. John Hollingsworth, said.
Through this partnership, HCL and Stellar would jointly offer compelling business services and outsourcing proposition to clients by leveraging HCL’s back office and technology product capabilities, which complement Stellar’s customer relationship management services. HCL and Stellar would target specific industry segments such as banking and financial services, telecommunications, manufacturing, utilities services, retail and media.
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India, Australia sign major deal to expand education partnership
India and Australia have signed a major education deal to take their relationship forward after a series of various attacks on Indian students. The deal was signed when Indian Minister for Human Resource Development, Mr. Kapil Sibal, met Australian Deputy Prime Minister, Ms. Julia Gillard in Melbourne.
Under the deal, the two sides agreed to set up a joint education council and to extend exchanges in the field of education. “India and Australia are at an exciting time in their relationship”, a joint ministerial statement said, adding that people-to-people contacts are at the heart of the bilateral relationship. “Students studying in both countries play an important role in building bridges of friendship and understanding and are a significant resource for future development of the relationship,” the statement said.
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Gujarat NRE arm places $90-m order for longwall system
Gujarat NRE Coking Coal Ltd, the Australian subsidiary of Gujarat NRE Coke Ltd, has entered into a contract with Joy Manufacturing Company Pty Ltd, an Australian mining technology provider, for the supply of longwall systems.
The contract valued at $90 million also includes purchase of a new longwall clearance system to upgrade the existing one of NRE Wongawilli mine in 2013.
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India’s largest urbanization project seeks Aussie expertise
India’s largest urban infrastructure project, Lavasa City, is looking for Australian expertise in sports, education, tourism, hospitality and leisure.
Lavasa is a hill city, being built across 12,500 acres and is an initiative of India’s leading engineering and construction conglomerate, Hindustan Construction Company (HCC).
“Australia has established excellent infrastructure in its cities with a population of only 21 million. In spite of the disadvantage of distance, Australia successfully attracts a huge tourist population. We would like to learn from and partner with Australian firms to develop Lavasa City and to lift urban development in India to global standards,” said Mr. Rajgopal Nogja, President of Lavasa.
“India’s youthful demographics with their significant spending power and increasingly western tastes are driving consumption and demanding new choices in leisure and recreations,” said Mr. Peter Linford, Senior Trade Commissioner - Asia, Austrade.
The company is looking to source sport management services, green building products and technology, and find suitable partners to establish business, hospitality, entertainment, parks and residential education campuses.
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Macquarie appoints new Head in India
Macquarie Group Ltd has appointed Mr. Gaurav Gupta as head of Macquarie Capital Advisers in India. Mr. Gupta will be based in Mumbai and will report to Kalpana Desai, Macquarie Capital Adviser’s Deputy Head of Asia.
Mr. Gupta has more than 12 years of investment banking and transaction advisory experience and most recently served as Head of telecommunications, media and financial services for Nomura in India.
“I am delighted to be joining Macquarie, a leading highly respected and innovative financial services organization. With its strong sector focus, Macquarie is well placed to add significant value to clients in India. I look forward to working with the team to take the Indian franchise to the next level of growth”, said Mr. Gupta.
Macquarie has a significant presence in India and has advised on some of India’s most successful transactions, including the largest ever IPO in India for Reliance Power. Macquarie’s activities in India include corporate finance and advisory, infrastructure funds management, cash equities sales and research, and private wealth management.
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Gujarat NRE to spend $500m on its NSW mines
Indian-owned coal producer Gujarat NRE plans to spend $500 million for expanding its two mines in the Illawara region of New South Wales over the next five years. The expansion is expected to increase output to about 6mtpa of coking coal by 2014/15.
The company will spend up to $100 million on the expansion this year, with the remainder to be invested over the next four years.
“India is our primary export destination and the demand for coking coal in India is expected to double over the next 10 years,” according to Mr. Arun Kumar Jagatramka, Vice-Chairman and Managing Director of Gujarat NRE.
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Taj completes four successful years in Australia
Taj Hotels, which checked into Australia in February 2006, has now completed four years and has now emerged as one of India’s most visible brands in Australia. It was in 2006 that the company acquired the “W” Hotel in Sydney and later renamed as “Blue Sydney”.
Situated in the wharf at Woolloomooloo in Sydney, the Hotel is located close to the central business and shopping districts, The Sydney Opera House and the Royal Botanical Gardens.
The Foray into Australia represents a major step of the Indian hotel into another part of the world reflecting Tata Group’s strategic interest in becoming a global hospitality chain.
In less than 4 years, a blend of Indian hospitality and Taj’s unique range of services have helped “Blue Sydney” to create a special niche in the minds of the discerning business community in Sydney and beyond.
Since re-branding BLUE in the Sydney hotel market by Taj Hotels Resorts and Palaces, each of BLUE’s guest rooms including 36 split level loft rooms, retain the eclectic charm of the historic wharf building, while providing the latest in modern luxury and accommodations.
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Australian Automotive Mission to India
An Australian Automotive Mission organized by the Australian Trade Commission visited New Delhi, Mumbai, Pune, Bangalore and Chennai from February 15 to 24, 2010. The Mission was led by Mr. John Conomos AO, Australian Automotive Industry Envoy for Asia and the former Executive Chairman of Toyota Australia.
At a Welcome Reception organized by Mr. Aminur Rahman, Australian Consul General and Trade Commissioner for South India, on February 23, 2010 at Chennai, Mr. Conomos observed that the growth of Tamil Nadu as a major hub for Indian automobile industry has opened huge opportunities for Australian automotive companies.
The members of the Mission included:
● Mr. John Conomos AO, Australian automotive envoy for Asia ● Mr. Allan Robins, GM-Business Devpt., Air International Thermal Systems Pty Ltd (www.ai-thermal.com) ● Mr. Calvin Stead, Executive GM, aiAutomotive Pty Ltd (www.aiauto.com.au) ● Mr. Richard Davies, Managing Director, Davies Craig Pty Ltd (www.daviescraig.com.au) ● Mr. Basavaraj S Sheelavantar, Business Devpt. Manager, Diemould Pty Ltd (www.diemould.com.au) ● Dr. Tim Hilditch, Senior Lecturer, School of Engineering, Deakin University (www.deakin.edu.au) ● Mr. David Chuter, Chief Mktg. Officer, Futuris Automative Group Pty Ltd (www.futurisautomotive.com) ● Mr. Steve Groat, Director, T-Mag Pty Ltd (www.t-magcasting.com)
The Automotive Mission to India, supported by the Victorian Government and the Auto Link cluster is a part of the Automotive Market Access Program (AMAP), which in turn is a part of a larger initiative of the Australian Government’s new car plan for a greener future. The agenda of the A$ 6.2 billion “new car plan for a greener future” program is to reshape Australia’s automotive industry, further enhance its competitiveness and encourage the development and production of low-emission, fuel-efficient vehicles and components.
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Winning Business with India and South Asia
The Australian Trade Commission (Austrade) is organising the Seminar series on “Winning Business with India and South Asia” in major cities in Australia from March 19 – 30, 2010.
The objective of the Seminars is to highlight the export and investment opportunities in India and South Asia for Australian companies. The Seminars will have presentations from the following experts from Austrade.
● Mr. Peter Linford, Senior Trade & Investment Commissioner, South Asia ● Mr. Aminur Rahman, Consul General and Trade Commissioner, South India ● Mr. Peter Forby, Consul General and Trade Commissioner, Western India ● Mr. Chaitanya Patil, Team Leader, Advanced Manufacturing and Technology Team, Bangalore
Gujarat NRE is the Sponsorship Partner for the seminar series and Sri City (P) Ltd is the Co-sponsor for the event.
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Australian Report to suggest changes to its higher education sector
The Australian Government is to release a report over the next few days, which will recommend a series of institutional changes in its higher education sector in the light of attacks on Indian students across the country.
Mr. Michael Harbison, Lord Mayor of the South Australian capital Adelaide, who was in Chennai on 23rd February stated that the report was expected to include the enforcement of higher accreditation standards in private sector educational institutes, measures to improve the security of student funds deposited with these institutes, accommodation that takes account of cultural needs and employment prospects that ensure students are not tempted by black economy positions that are exploitative.
The Lord Mayor was also the Chief Guest at a Luncheon Meeting hosted by Mr. A.K. Tareen, Senior Trade Commissioner, Government of South Australia office at Chennai, on 23rd February.
Later in the day, Mr. Harbison signed a Memorandum of Understanding with the Rotary Club of Madras, which sponsors two scholarships a year for the children of Rotarians to study at Carnegie Mellon University, Adelaide.
Mr. Harbison, who hosts a reception every year for international students in Adelaide, said that he considered himself responsible for the well-being of students at Universities in his state and pledged to do his best to ensure international students had a happy and productive stay in Australia.
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Indian growth ‘good for Aussie exports’
Australian mineral exporters are likely to continue to benefit as India’s economy grows in importance, the Reserve Bank of Australia (RBA) has suggested. “The Indian economy looks likely to continue to expand at a relative rapid pace in coming decades and to become an increasingly important part of the world economy”, the RBA said in its quarterly statement on monetary policy.
The central bank said the rise in India’s prominence in the global economy has been a boost to the Australian economy. India was Australia’s fourth largest export market in the second half of 2009.
The RBA said coal exports to India has risen strongly over the past decade and accounted for 40 per cent of total goods exports to India in 2008-09. “Coal exports are likely to continue to grow over the next few years, as significant planned expansions in India’s steel making capacity come online”, the Bank said.
Liquefied Natural Gas (LNG) is another likely source of future growth in Australia’s export resources to India.
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Australian company to commence coal mining in India
Australian mining company, India Resources Ltd (IRL) is set to enter the Indian coal sector following an agreement entered into with Bankura DRI Ltd, a consortium of six sponge iron manufacturers, who have been allocated a coal block in Ranigunj in West Bengal, IRL’s Managing Director, Mr. Arvind Mishra, said. An investment of around 100 crores has been earmarked for this venture.
On the agreement reached with Bankura DRI, Mr. Mishra said that this would be done on a build-develop and operate project with a concession period of 30 years. The mine allocated by the Union Coal Ministry has a reserve of 95 million tones and IRL hopes to produce five lakh tones within the third year from now. Most of the regulatory approvals are in place, he said.
IRL has applied for licences for new copper mines near Udaipur in Rajasthan, besides applying for 15 exploration licences for iron ore in Orissa and Jharkhand. It has also applied for diamond exploration licences in Orissa, Andhra Pradesh and Madhya Pradesh.
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Cox and Kings acquires Australian travel firms
Mumbai-based travel firm Cox and Kings India Ltd's, wholly-owned subsidiary Cox and Kings Australia Pty Ltd has acquired 100 per cent equity stakes in Australian firms MyPlanet Australia Pty Ltd and Bentours International Pty Ltd.
The transaction was carried out through share sale agreements with First Choice Holdings Australia Pty Ltd, a European tourism group and part of TUI Travel Plc.
This is the second Australian acquisition of Cox and Kings in a year's time following its acquisition of another Australian firm Tempo Holidays for $25 million in November 2008. According to the company, the acquisition of MyPlanet will strengthen products and retail distribution presence of Tempo Holidays.
"It brings synergies between the business models of both the companies that helps in consolidating costs, resources and technology. It also brings greater brand value in the Australian market," Cox and Kings said in a statement.
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Mr. Geoffrey Conaghan – New Victorian Trade Commissioner to India
Mr. Geoffrey Conaghan commenced his role as Commissioner to India in the Victorian Government Business Office at Bangalore, in December 2009.
Prior to his appointment as Commissioner, he was a Senior Executive at Melbourne Airport between 1994 and 2009. He has held various positions at Tourism Training Australia, Tourism Victoria, the Government’s Tourism Commission and also the Chairman of Melbourne’s St Kilda Centre for Contemporary Art.
His professional contribution to aviation, the tourism industry, training and education was recognized with the 2009 Victorian Tourism Award for Outstanding Contribution by an individual.
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Bid to win $100m in green power funding
A Queensland Consortium has been launched to bid for $100 million in federal funding for solar power pilot projects.
The Consortium includes the Queensland Government, energy companies Ergon and Energex, the CSIRO, Universities and Korean Government-owned electricity giant KEPCO.
Energy Minister, Mr. Stephen Robertson, said, two key parts of the bid include a solar thermal storage technology pilot project, which captures heat from the sun and stores it for future electricity generation, and a trial of fitting solar photo-voltaics to the power grid.
The Queensland Smart Communities bid proposes to build a large scale demonstration Smart Grid Smart City Project in Townsville, with several standalone projects at Zillmere in Brisbane’s north and Toowoomba.
The Federal Government will announce the winning bid of its National Energy Efficiency Initiative in April, with funds to be released in July 2010.
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New Chair for the Australia-India Council
Mr. John McCarthy AO has been appointed Chair of the Australia-India Council (AIC) by the Governor General of Australia, H.E. Ms. Quentin Bryce AC. He served with distinction as Australia’s High Commissioner to India for five years from 2004 to 2009. Mr. John McCarthy will bring a wealth of experience to his role as Chair of the Council.
His distinguished forty-year diplomatic career has included postings as Australia’s Ambassador to the United States, Japan, Indonesia, Thailand and Vietnam. Mr. McCarthy is currently Australia’s Special Representative to Sri Lanka.
The Australia-India Council was established by the Australian Government in 1992 to broaden and deepen Australia-India relations through contacts and exchanges in a range of fields that promote mutual awareness and understanding.
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Mahindra forays into aerospace in Australia
Making an entry into the aerospace business, auto major Mahindra & Mahindra (M&M) has picked up 75.1 per cent stake each in two Australian aerospace firms for Rs. 175 crore and allied components to service the global market.
In a joint acquisition with Kotak Private Equity, Mahindra Aerospace Pvt. Ltd (a unit of M&M), bought majority stake in component maker, Aerostaff Australia, and general aircraft manufacturer, Gippsland Aeronautics.
“Over five-years, we believe that we could build as many as 475 aircraft in the 2-20-seater range and expect a peak revenue of about Rs. 650 crore,” said Mr. Hemant Luthra, President, Systech Sector and Member of the Group Management Board, Mahindra & Mahindra.
Mr. Luthra said the company would initially manufacture sheet metal aero-structures and over a period would invest more to make components, sub-assemblies and eventually aircraft in India and Australia.
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Union Bank of India inaugurates Representative Office in Sydney
As part of its global expansion initiatives, Union Bank of India (UBI) has set up its Representative Office in Sydney, Australia, in December 2009.
Mr. M.V. Nair, Chairman and Managing Director of UBI, said, “Australia is one of the focused countries in the expansion plan of Union Bank and the Bank has made the beginning by setting up the representative office. The bank desires to take this initiative further in a form of having fully fledged branch operation or through a subsidiary bank in the country. The reason for the Bank’s Australian focus is the strength of the growing bilateral relations between the two countries.”
UBI has become the third bank from India to set up office in Australia. The Representative Office in Sydney provides market information, consultation and liaison to Australian entrepreneurs willing to establish business relationship in India and is located at 275, George St, Sydney, NSW 2000.
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Westpac plans to outsource to India’s top tech firms
Australia’ second biggest bank, Westpac, is seeking outsourcing suppliers for contracts worth up to $500 million, with India’s top tech firms.
Westpac, which acquired St. George Bank last year for $19 billion, wants to have a common general ledger and consolidate other systems including payroll. The IT integration costs alone will be around $338 million, apart from an additional $168 million being earmarked towards outsourcing and restructuring.
For Indian vendors, Westpac contract offers an opportunity to gain business from IBM, which is due to renew its contract with the bank next year.
Australia’s top banks including Westpac, National Australia Bank, Commonwealth Bank of Australia and ANZ will invest almost $4 billion on technology this year, according to experts tracking the industry.
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Gujarat NRE to invest 4,200 cr. in India and Australia operations
Gujarat NRE Group has decided to invest around Rs. 4,200 crore in its Indian and Australian operations over the next two years. Plans include investing around $500 million in its Australian operations – in Gujarat NRE Minerals, while another Rs. 2,000 crore will be invested in India in Gujarat NRE Coke.
GNCL intends to add around 240 mw of thermal power generation capacity at about Rs. 1,000 crore and enhance its coking coal capacity from 1.25 million tonne per annum (mtpa) at present to four mtpa by 2014. In Australia, the Group has firmed up plans to enhance coking coal production capacity from the present level of 1.5 mtpa to 6 mtpa in the next 2-3 years.
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Australian company, RFG, bets big on Indian food market
Betting big on the $12-billion Indian retail market, Australia’s Retail Food Group (RFG) plans to make tis proposed venture here to be bigger than its domestic operations within the next 15-20 years. The company, which will enter the Indian market next year, is aiming to clock a revenue of $ 87 million (about 4,022 crore) from the country within five years from start of operations.
“We expect revenues of $ 87 million from our India within five years. In 20 years, we expect Indian operations to be bigger than the Australian business,” RFG Sales and Leasing Manager, Mr. Gavin Nixon, said.
RFG, the largest retail chain in Australia, last year clocked a turnover of $505 million in the domestic market. “The Indian food market is one of the most promising and offers immense potential. We want to capitalize on it as part of our global growth strategy”, Mr. Nixon said.
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Australian dairy firms eye Indian market
The Australian dairy industry, the fourth largest dairy products exporter, has set its eyes on the Indian market, the world’s largest producer of milk, to explore joint ventures and alliances for exports.
A delegation of six Victorian dairy companies visited India for a week from 22 – 28 Nov 2009. The delegation was led by Peter Myers, Manager International Market Development from the Department of Primary Industries, State Government of Victoria. The delegation comprising six companies – Ballantyne Foods Pty Ltd, Bemco Australia Pty Ltd, Fresh Cheese Company (Aust) Pty Ltd, Longwarry Food Park, Lemnos Foods Pty Ltd and Tatura Milk Industries Limited – visited Bangalore, Hyderabad, Mumbai and New Delhi.
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Australian Solar Institute keen to partner Indian research bodies
The Australian Solar Institute (ASI), part of the Australian Government’s A$ 4.5. billion Clean Energy Initiative (CEI), is looking at jointly working with Indian research institutes on cutting-edge solar technologies.
This comes in the backdrop of both India and Australia announcing a step-up in the focus on solar power, with India having recently announced a 20,000 MW solar target, and Australia planning a substantially higher grid-connected solar power base in the coming years.
The $100 million ASI was launched in January 2009, with the announcement of three foundation projects for Australian National University, the University of New South Wales and scientific research organization CSIRO.
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Rio Tinto in first-ever India iron ore shipment
Australian mining giant, Rio Tinto, has made its first-ever iron ore sale to India, in what it called a “ground-breaking” development.
The company’s iron ore Chief, Mr. Sam Walsh, said that Rio had sold 160,000 metric-ton shipment to Indian steel maker, Essar, for export later this month. “To me, this is a ground-breaking sale and I think it is a good signal for us and Western Australia – it is strategic for us” Mr. Walsh told. “We have long believed that India is a long-term market of great potential, and this development should be seen in that context,” he added.
The world’s largest miner, BHP Billiton, which agreed this month to combine its Western Australia iron ore operations with Rio, has said it expects global steel demand to double in 15 years. India would partly drive a 250 per cent increase in seaborne iron ore demand by 2025, and was also expected to intensely consume energy and coking coal, BHP said.
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Australian Export Awards 2009
Australian Export Awards for 2009 have been announced. Congratulating the National Winners, the Australian Minister for Trade, Hon. Mr. Simon Crean, said that collectively, these 12 companies had earned more than $1.5 billion in export sales during the last financial year and employed nearly 2,500 people. Mr. Simon Crean presented the 12 winners and the overall Prime Minister’s Australian Exporter of the year Award.
The Award Winners are as follows:
– Prime Minister’s Australian Exporter of the Year Award
– Australian Chamber of Commerce and Industry – Agribusiness Award
– Australia Post – Arts and Entertainment Award
– CPA Australia Ltd – Education and Training Award
– Enterprise Connect – Emerging Exporter Award
– Ernst and Young – Information and Communication Technology Award
– Australian Made Campaign Limited – Large Advanced Manufacturer Award
– Austrade – Large Services Award
– Minerals Council of Australia – Minerals and Energy Award
– TradeStart – Regional Exporter Award
– Department of Innovation, Industry, Science and Research – Small Business Award
– Commonwealth Bank – Small to Medium Manufacturer Award
– Export Finance and Insurance Corporation – Small to Medium Services Award
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Australia to invest $70 mn in India for green research
Australia will make an investment of around $70 million in India for research enabling green technology to combat the challenges both countries face in energy, water, health and environment fields due to climate change. This was announced by Australian Prime Minister, Mr. Kevin Rudd, at a function organized by The Energy Research Institute (TERI).
Australia will pump in $20 billion for research into dryland farming in India over five years through the Australian Centre for International Agricultural Research. $ 1 million for an innovative Australia-India solar cooling research project. The additional $50 million over five years for the Australia-India Strategic Research Fund will start from next year.
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Mahindra Satyam partners Gen-i
Mahindra Satyam has announced a strategic partnership with Gen-I, one of Australasia’s leading ICT services providers, for Windows 7 migration services that will help reduce costs and complexity to improve productivity for customers.
Commenting on this partnership, Mr. C.P. Gurnani, CEO, Mahindra Satyam, says, “we are thrilled to strengthen and expand our relationship with Gen-i. Today’s agreement leverages the expertise of both companies to enable customers to realise an improved user experience with greater reliability and lower total cost of ownership. We believe this is where we wan make a real difference and add value to our customers”.
Sarah Vaughan, Windows 7 Commercial Group Lead, Microsoft Australia, said “it’s great to see our partners joining together to form alliances that will bring increased business benefits to our customers. Services such as their automated testing will dramatically reduce overheads for enterprises, allowing them to accelerate their deployment and reap the benefits of Windows 7.
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Telstra applies to re-enter Indian telecom market
Telstra, the Australian communications major, is planning to re-enter India’s telecommunications service space after several years, by offering national (NLD) and international long distance (ILD) services. It also plans to acquire an internet service provider (ISP) license in India.
Telstra Holdings, a 100 per cent subsidiary of Telstra, has applied to the Foreign Investment Promotion Board (FIPB) for increasing its stake in the Indian company, Telstra Telecommunications, to 74 per cent from the current 49 per cent. Telstra Communications is a joint venture company in which India’s Microland Investment has a 51 per cent stake and Telstra Holdings has a 49 per cent stake.
After approval from FIPB, the company plans to acquire NLD, ILD and ISP license from the Department of Telecommunications.
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Brand India Textile Fair receives an overwhelming response in Australia
Brand India Textile Fair has turned out to be a huge success at the Melbourne and Sydney Exhibition & Convention Centres from November 12-17, 2009. The inaugural Brand India Trade Fair presented an opportunity to introduce an assortment of India’s finest fashion, textile and interior products and their representatives to the Australian market.
The traditional art of beading was touted as a key drawcard for manufacturing fashion in India at the Fair. Australian designer, July Grbac, said the beading capabilities of Indian manufacturers enabled to create her intricate designs.
Many trade fair visitors were delighted to find that many Indian manufacturers provided a ‘one stop shopping’ service, offering textiles and trims, ready made goods and products development in both fashion and home interior products, all within the one company.
Participation from major brands in the industry like Myer, Collette Dinnigan, The Stafford Group, Kas, Rapee, SABA, Belinda Seper, Willow, Hussy, Bettina Liano, Seduce, Spotlight, Bed Bath & Table, Charles Parsons and well-known designers from the sector were an attraction to the event.
The visitors of the Fair also had an opportunity to attend the industry seminars on “How to do Business with India’ and interactive sessions with a number of informative and impressive seminar panelists.
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University of Canberra plans to outsource to reduce operational cost
Australia’s University of Canberra, which awarded an outsourcing contract to Wipro in May earlier this year, plans to bring down its operational costs by up to 40% over next three to four years, and focus better on its core business of teaching and research.
The University of Canberra, along with other Australian educational institutes are expected to spend around $ 650 million on different IT initiatives in order to modernize their process, bring down operational costs and compete better in the global market.
“There is a real competitiveness happening in education and I want every spare dollar to go into teaching and research”, said Professor Stephen Parker, Vice-Chancellor and President of the University. The University decided to outsource when it felt its IT support was expensive and not as effective as it should be. “It was a new world to me and we linked to the people in India who can do such things,” said Mr. Parker.
“Education is Australia’s third biggest export market. There is a huge potential to tap this unexplored market, where Universities need huge IT support not only to maintain administration, but also for high end research and development”, said Mr. Kannan Natarajan, General Manager at Wipro for Australia, ASEAN and Middle East Markets.
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