As India celebrates 10 years of the ambitious “Make in India” initiative, the Australia India Business Council (AIBC) reflects on the growing success of its complementary “Make with India” Industry Chapter.
Launched in October 2019, this chapter has been pivotal in strengthening ties between Australian businesses and India’s rapidly growing sectors.
Under the leadership of Narasimhan Viswanathan, Chair of the AIBC “Make with India” Industry Chapter, the initiative has fostered collaboration and unlocked significant opportunities for Australian companies in key sectors such as renewable energy, electric vehicles, infrastructure, manufacturing services, information technology, pharmaceuticals, and most recently, defence and space technologies.
Viswanathan observed on LinkedIn, “Make In India, Make it for Australia and other countries for global prosperity.”
By actively participating in India’s “Make in India” initiative, the chapter has aligned its efforts with both countries’ economic strategies, aiming to boost bilateral trade and achieve mutual growth.
- Sector Engagement: AIBC members have made significant contributions to sectors that are strategically important for both Australia and India, including professional services, manufacturing, mining, and emerging technologies.
- Collaborative Events: The chapter has hosted numerous webinars and roundtable discussions on topics such as renewable energy, digital technologies, pharmaceuticals, and defence, promoting B2B, B2G, and G2G business opportunities.
- Strategic Alliances: Strong partnerships with organisations such as FICCI, INVEST INDIA, and the Advanced Manufacturing Growth Centre Limited have paved the way for Australian businesses to engage with India’s economic vision.
- Smart Manufacturing Event: The chapter organised a successful event on “Bilateral Opportunities in Smart Manufacturing,” which brought together over 70 representatives from both nations to explore sectors like sustainability, recycling, defence, and space.
- Clean Energy and Mining Tech Forum: Another standout event focused on “Clean Energy, Renewables, Minerals & Mining Tech,” exploring emerging opportunities in critical minerals and sustainable energy that align with both nations’ shared commitment to net-zero ambitions.
- Defence and Space Technologies: Two collaborative events held in South Australia highlighted opportunities for collaboration in defence equipment manufacturing and space technologies.
Launched in 2014 by Indian Prime Minister Narendra Modi, the “Make in India” initiative was designed to transform India into a global manufacturing hub, boost domestic employment, and attract foreign direct investment (FDI).
The initiative focuses on sectors such as manufacturing, infrastructure, renewable energy, and electronics, aiming to make India self-reliant while integrating the country into global supply chains.
Over the past decade, “Make in India” has attracted significant investments, spurred innovation, and laid the foundation for India’s ambitious economic growth plans, including an emphasis on sustainability and digitalisation.
India’s Commerce and Industry Minister Piyush Goyal who was on a three day (23-25 September 2024) visit to Australia to enhance bilateral economic ties observed on LinkedIn, “This initiative aligns with PM Modi ji’s vision of positioning ‘Brand India’ as a global benchmark for innovation and quality.”
“The opening of Invest India offices abroad will aid in attracting global investments, thereby generating opportunities for the growth of domestic enterprises. These significant measures are crucial in ensuring the continued success of the Make in India initiative,” he added.
Looking ahead, the AIBC “Make with India” Industry Chapter continues to explore new avenues for collaboration, helping Australian businesses tap into the immense potential of the Indian market.
The inclusion of the “Make with India” initiative in the Comprehensive Strategic Partnership Agreement between Australia and India serves as a further boost to the chapter’s efforts.
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