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India offers huge investment (1)   16-May-08 10:48Tracked by (0)  
Posted by:   stox & more on ( 16-May-08 10:48 )
India offers huge investment potential for Australian and New Zealand companies in mining, agriculture, IT, tourism and aviation, says a study to be released by industry body FICCI during Commerce Minister Kamal Nath's visit to these two countries next week.

The study said huge opportunities exist for Australian companies to invest in sectors like tourism, infrastructure, petrochemicals, mining technology and engineering in India.

"With over 550 million people below the age of 25 years, India offers a sharp contrast to the labour constraint already being faced by Australia. India has an attractive pool of skilled labour," the FICCI-PwC study said.

FICCI is taking a 50-member strong business delegation to Australia and New Zealand, coinciding with the visit of Commerce and Industry Minister Kamal Nath from May 19-23.

The FICCI-PricewaterhouseCoopers (PwC) study on India-Australia and India-New Zealand Trade and Investment Flows would be released at the 'Destination India' meeting in Sydney and Melbourne and at Auckland at the Joint Business Council (JBC) meeting.

The study lists out mining as a key area for Australian companies, who can use their clean coal and mining technologies in tapping the potential in states like Chhattisgarh, Jharkhand and Orissa, the study said.

It listed auto-components, bio-technology, agriculture, education and the financial services sector as other areas for investment, it added.

"India is now in the process of upgrading its farm sector and is seeking massive investments in processing capacities and cold chains," it said adding that with prices for agri commodities rising globally, it becomes imperative or India and Australia to come together in this sector.

*courtesy ET*
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