Indian cos. eyeing Australia

By Our Corporate Reporter

CHENNAI, OCT. 22. Australia is emerging as a major hope for the recession-hit Indian industry. While IT spearheaded the change on Indo-Australian business relations, the new equation is extending to a number of new areas such as bio-technology, healthcare and food processing, according to a release from Indo-Australian Chamber of Commerce.

The chamber, which is emerging as a major platform for business interactions between the two countries, has successfully led a delegation to Australia recently and visited Perth, Melbourne and Sydney.

Following the delegation's visit, two Australian groups in business communications are getting ready to open offices in Chennai. Australian companies are increasingly looking at India as a cost effective source for a variety of knowledge-based back- end operations.

An Indo-Australian joint venture for manufacturing medical equipment between Ulco Medicals, Sydney and Avasarala group, Bangalore, is taking shape in Pondicherry and will be inaugurated on October 26.

Send this article to Friends by E-Mail

Section  : Business
Previous : RIL to market DuPont's lycra
Next     : Infrastructure sector picks up in Sept.