Meetings show great interest in WA-India trade

19/11/93

There has been a high level of interest within the Indian business sector for increased trade with Western Australia.

The message that has come through in a series of meetings between a visiting Western Australian trade mission and India's major commerce and industry groups is that trade prospects are particularly good for small to medium businesses in both countries.

Deputy Premier Hendy Cowan is leading an 11-member WA Government and Chamber of Commerce and Industry trade delegation to India which in recent days has held talks with four peak Indian business groups in New Delhi and Madras.

Members of the delegation were guests at a luncheon organised by the influential Confederation of Indian Industry in New Delhi.

The confederation is a national industry association representing almost 3,000 companies and 25 affiliated associations, mainly in the manufacturing field.

Mr Cowan said it was important WA did not adopt a blinkered approach to trade by focusing too narrowly on any one particular geographic area.

The Deputy Premier told the meeting that the recently-released McKinsey Report into Australia's export capability had established that only one in 10 Australian companies capable of exporting actually did so.

"Clearly there is room for a much greater export effort and small to medium business enterprises can feature prominently in that effort," Mr Cowan said.

"As India's economic structure becomes more liberalised, it will become a natural target for increased trade with WA.

"With both countries sharing a common ocean, there is scope for greater co-operation in many fields.

"It has become obvious during this visit that there are a great number of Indian business people interested in becoming involved with Australian business people in a wide range of pursuits."

The chamber's president, Mr Jamshyd Godrej, said that Indian companies were looking towards Australia as a market source of investment.

"Your trade mission is here at an historic time of change in the Indian economy," Mr Godrej told the gathering.

The trade mission later conferred with the Associated Chambers of Commerce and Industry which represents more than 350 affiliated chambers in India, with membership exceeding 65,000 companies.

The chairman of ASSOCHAM, Mr Hari Singhania, also welcomed the timing of the delegation's visit and said that India represented a very big business opportunity for WA.

He pointed to future development of the power generation industry, given India's power supply deficit which would need to be corrected if the country was to advance rapidly.

Mr Cowan said the vast natural and social contrast which existed between WA and India could be the basis for an increase in tourism activity.  However, he noted concerns expressed by ASSOCHAM about the absence of direct flights between India and Australia.

The Deputy Premier also told the meeting that the WA Government and the Chamber of Commerce and Industry of WA were keen to help Western Australian companies make new contacts in India.

Members of the CCIWA delegation have been actively pursuing business opportunities during the current India visit.

The delegation has also had meetings with the India-Australia Joint Business Council in New Delhi and later in Madras, with the Indo-Australian Chamber of Commerce.

A 'Sister Chamber' relationship has existed between the CCIWA and the Madras Chamber of Commerce and Industry since 1989.

Early in 1990, the Madras chamber sponsored the establishment of the Indo-Australian Chamber of Commerce to provide a sharper focal point for the growing interest in developing business links between the States of Tamil Nadu and WA.

Mr Cowan is due to hold further talks with business groups when he travels to Bombay next week.

Media contact:  Barry Thornton 222 9595