Australia seeks greater economic, trade ties with UP

Australia today sought greater economic and trade ties with Uttar Pradesh, especially in education, food processing and financial services sectors.

Australian minister and deputy high commissioner Lachlan Strahan interacted with members of Uttar Pradesh industry affiliated to Micro, Small and Medium Enterprises (MSMEs) chamber Indian Industries Association (IIA) and Confederation of Indian Industry (CII) and discussed areas of mutual business interest.

“Apart from university education, Australia can immensely benefit Uttar Pradesh industry with vocational training facilities for upgrading skills and capacity building,” he said.

He stressed that effective partnerships in the education sector would ensure that people do not need to travel to Australia for availing these services.

He underlined that Australia wanted to create a conducive business platform between the two countries under which the Small and Medium Enterprise (SME) sector players in Australia could find right partners in India.

In the food sector, Strahan said Australia had developed advanced technologies in logistics and supply chain management to minimise loss of agricultural produce and enhancing exports.

“It is estimated that almost 30 per cent of agricultural produce in India is lost to wastage and spillages. This is an area, where Australia has a lot to offer in supply chain management and logistics,” he added.

“Since Australia is basically a dry country, we employ advanced technologies for conservation of water resource and judicious utilisation. This way, we can contribute towards maintaining India’s future food security,” he noted.

Talking of financial services sector, he said Australian companies were keen to deliver their expertise in India in collaboration with Indian partners, in fields of insurance, banking and legal services.

Strahan said the scientific research fund instituted by Australia for carrying out advanced research in various disciplines still had a much wider scope for collaboration in India.

Meanwhile, IIA President Anil Gupta said the MSME sector provided jobs to 60 million people, contributed 45 per cent and 40 per cent to manufacturing and exports sector, respectively.

“Due to the free trade agreements between nations, MSMEs have been affected, while financing options before the sector is limited,” he added.