Australia asks PM Modi to promote SMEs

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SME Times News Bureau | 20 Nov, 2014
Australia's Treasurer Joe Hockey has asked Prime Minister Narendra Modi to look into promoting small and medium enterprises (SME) sector, reports media.

He said, "SME sector can play a key role in further strengthening trade ties between Australia and India." Joe Hockey's remarks came during the last leg of the round-table CEO meet held Tuesday.

Stressing that there was a key role for SME sector to further enhance bilateral trade relations, Hockey said "if we can find a way then I have no doubt in the growth of the relationship. I have not met personally Indian Finance minister Arun Jaitley but have spoken at length and have no doubt that relationship will grow significantly."

"There has been fruitful talks on energy, education and financial services," he said and added the role of small medium sector has not been touched.

Hockey was a part of discussion where Modi met top honchos of corporate Australia along with his high level CEOs delegation including Adani Group's Gautam Adani, Mahindra & Mahindra's Anand Mahindra and Infosys CMD Vishal Sikka.

During the roundtable, top Australian company Visy Industries announced that it will invest to launch leadership dialogue programme between the two nations.

The annual bipartisan dialogue called 'Australia India Leadership Dialogue' would be organised by Australia India Institute(AII), the leading think tank based here, in October next year and will take place alternately in India and in Melbourne.

"The leadership dialogue will help create common understanding on critical bilateral and global issues between the political and business leaders of the two countries as well as inject new creativity into addressing common challenges of the near and the future," AII CEO Amitabh Mattoo said.

Anthony Pratt, Chairman and CEO of Pratt Industries, Ross Fitgerald of Vizy Industries would Chair the Australian dialogue while Matto would chair the Indian side for the dialogue for the first four years.

The participants at the dialogue would include leaders from business, public life and civil society, including the media. The dialogue will be held alternately in India and in Melbourne.

Praising Modi for his efforts and and vision, Mattoo, moderator of the roundtable, said there was enthusiasm in Corporate Australia to engage and do business with India.