500 Top Australian CEOs Will Attend Prime Minister Narendra Modi’s Lecture

Mangalore Today News Network

New Delhi, Nov 13, 2014: About 500 CEOs and Managing Directors of some of Australia’s biggest companies will attend a lecture to be delivered by Prime Minister Narendra Modi on Tuesday, November 18, in Melbourne.

Mr Modi, who lands in Australia this evening, is the first Indian PM after Rajiv Gandhi to visit the country - a gap of 28 years.

The event will be hosted by the Governor of Victoria and has been organised by the Australia India Business Council or AIBC, which was established in 1986 by Mr Gandhi and Prime Minister Bob Hawke of Australia.

AIBC National Executive Team Chairman Dipen Rughani told NDTV, "We are very excited to welcome Narendra Modi to our shores."

He said if the current Indian government makes policies flexible and access for foreign institutional investors easier, India could tap much investment from Australia.

"For such a small population, Australians have savings of 1.5 trillion dollars, which places it in the top three countries of the world. It also adds 60 billion every year in superannuation savings, a larger portion of that is going to US and Europe.. now how can India attract that? India certainly needs it. With the commitment to infrastructure India needs foreign institutional investment and Australia can offer that," Mr Rughanii said.

He complained about a "lack of interest from the previous UPA government" derailing the council’s efforts so far and said he is counting on Mr Modi’s focus on growth and development.

"With the UPA government there was a policy paralysis, lots of internal fighting and corruption issues that kept them occupied. They were internalising everything and not focusing on the bigger picture. With the current government and Narendra Modi, there is more focus on growth and development. His focus is clear and how will that be achieved? By welcoming foreign institutions to investment and build in India.  That is the distinct difference between the two governments."

Mr Rughanii said mining and education are the two sectors that offer huge opportunity for partnership. "Australia’s mining, energy and resources are the best in the world... a number of policy changes are on the cards in mining. India needs Australian technology and mining infrastructure, skill set. Australia also has a very good vocational educational  system which can be used to upskill young Indians," he said.

 

Courtesy: NDTV