India's Ratan Tata urges closer business ties with Australia

Nov 28, 2012

Indian business icon Ratan Tata has urged stronger trade ties with Australia, particularly in technology, saying there are major growth opportunities for both countries.

Receiving an honorary degree from the University of , the chairman of India's largest corporation also said citizens of both countries needed to become more familiar to each other.

"The two countries have reason to do much more together than they have done," Tata told an audience in Sydney late Tuesday.

"Australia is at the forefront in many high tech areas and India seeks some of that technology."

Tata, whose 's products run from automobiles to software, said there was huge scope for Australia to export products to India, where the 300 million-strong middle class could reach as high as 600 million people.

Trade between Australia and India has soared over the past decade, growing from Aus$3.3 billion (US$3.1 billion) in 2000 to more than Aus$20 billion in 2011.

Demand for Australian commodities such as coal, wool and copper is driving the trade, but education is also a large and growing aspect of the relationship.

Tata stressed the importance of the education market, saying it was an opportunity to create life-long ties by student exchanges and internships.

"Our two countries have to be more familiar at a citizen level," he said.

In a recent report on the Asian Century, Canberra said India now stands at the front rank of Australia's international partnerships and deeper bilateral, regional and was being pursued in many fields.

Tata took over the in 1991 and is credited with building it into an international behemoth.

He won headlines as the behind the creation of the Nano, billed as the world's cheapest "people's" car, as well for the purchase in 2008 of luxury British Jaguar and Land Rover.

He is due to retire at the end of December when he turns 75.

Explore further: Amazon ups Ohio jobs to 1,000, begins collecting sales taxes

Related Stories

India's Tata group to sell $700 flat-pack house

Jul 17, 2011

The Indian company that launched the world's cheapest car has unveiled its latest product for the fast-growing nation: a flat-pack house that costs just $700 and can be built in a week.

Recommended for you

The top 10 highest-paid female CEOs

12 hours ago

Female CEOs are outpacing their male colleagues in pay, although they remain vastly outnumbered in the top echelons of American companies.

After security scandal, a tech firm says it's changing focus

May 28, 2015

A Silicon Valley startup says it's shutting down operations and shifting to a new business model after it was blamed earlier this year for turning unwitting computer users into targets for annoying web ads—and hackers.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.