India's surge offers unique chance to do business

25 Jul 2018
Leaders in Asia

Suresh Prabhu, the Indian Minister for Commerce and Industry, named two key areas for deeper ties with Australia during the keynote address at the Leaders on Asia event.

UNSW Sydney proudly partnered with Asia Society Australia to welcome Indian Minister of Commerce and Industry, Suresh Prabhu as the keynote speaker of the Leaders on Asia Address earlier this month.  

Speaking to academic, government and business leaders, Prabhu explored how economic reforms are fuelling India’s growth economy and urged partnerships with Australian industries, businesses and educational institutions to further progress. 

In his address, Prabhu emphasised the potential for Australian collaboration, particularly in the areas of manufacturing and agricultural production. He encouraged universities and research institutions to band together with agricultural manufacturing facilities to propel productivity and economic growth.  

The event attracted over 100 attendees to Sydney’s iconic Mint and served as a wonderful opportunity to hear from one of the brightest and most talented economists in India.  Formerly the G20 Sherpa and most recently Minister for Railways, Prabhu has a wealth of experience in economics and a love of Australia, having visited during Prime Minister Modi’s visit to Australia in September 2014.  

Leaders in Asia

Today, Prabhu is charged with leading India’s policies on commerce and industry, including some of India’s major economic reforms such as ‘Make in India,’ ‘Digital India,’ and ‘Ease of Doing Business,’ which are recognised as significant drivers in India’s economic growth. India is one of the fastest growing major economies in the world and is expected to be one of the top three global economic powers over the next 10 to 15 years. 

“I am struck with the opportunities and sense of collaboration India is building with Australia and hope to harness our collective power to drive future growth in both economies,” said Prabhu.   

UNSW Pro-Vice-Chancellor for International Laurie Pearcey said the forecast for India’s growth as Asia’s next superpower, and the accompanied growth of the middle class, present a rare opportunity for UNSW. 

“India is an increasingly strong market for UNSW with enrolments for 2018 at 551 students – up from 231 students in 2017,” said Pearcey. “This growth, a 138% increase, is indicative of the importance UNSW places on the bilateral relationship with India. We are committed to strengthening our ties across research, education and industry.” 

Leaders on Asia presents high-profile events with visiting heads of state, ministers, senior officials, dignitaries and leading thinkers from the Indo-Pacific region and Australia. It provides members with direct access to leaders who shape the present and future of the region.  

Along with Prabhu, other dignitaries in attendance included Australian High Commissioner to India, Harinder Sidhu, and Indian Consul General to Sydney, The Hon B. Vanlalvawna.  Also present were AIYD alumni – whom UNSW proudly supports  – Karan Anand, Director at Deloitte and Chair of AIYD, and Scott Farlow, Parliamentary Secretary to NSW Premier Berejiklian.  

The session was facilitated by Jennie Lang, UNSW Honorary Fellow and Asia Society Board Member, and Swati Dave, Managing Director and CEO of Export Finance and Insurance Corporation.