The Hindu Business Line : Aussie firms seek easing of bureaucratic control

, Even as more and more Australian companies evince interest in doing business with their Indian counterparts, it is felt that, for the potential to be realised in this regard, it would be imperative for the Indian authorities to ensure that bureaucratic controls are eased, processes are speeded up and continuity in the policy framework is maintained, according to Mr John McCarthy, Australian High Commissioner to India.

In an interview with Business Line on the sidelines of the Global Steel 2006 seminar that was held here recently, Mr McCarthy said about 180 Australian companies experienced export success in the Indian market last year. As such, more Australian companies would naturally be doing business with India in the days ahead, he said. According to him, in addition, there were 140 joint venturecompanies in India. Several companies have evinced strong interest in exploring business opportunities in India.

Austrade's "Export Opportunities in India" seminars that covered seven cities across Australia were attended by over 500 companies.

Mr McCarthy said Australia was sanguine that the Government of India was committed in terms of economic change and reform. However, the perceptions on continuity and the bureaucratic hurdles were burdensome. "Nevertheless, Australian companies feel that making a foray to India at this juncture is worth the effort," he said.

India is Australia's sixth largest export market at A$6.9 billion in 2005. Imports stood at A$1.2 billion. Resources, gold, coal, bauxite and wool were the main items exported to India even as services, education and tourism were growing fast.

At present, over 27,000 Indian students are registered in different Australian universities.

Mr McCarthy said, as far as Indian business was concerned, Australia has emerged as the ninth most important destination for Indian foreign direct investment. Indian companies have invested in the mining, retail and IT sectors in Australia. They include companies such as the Aditya Birla Group, Sterlite, Gujarat NRE, Tata Consultancy Services, Infosys Technologies, Polaris Software, Mahindra-British Telecom, Oswal Group, Asian Paints etc.