Wednesday, 27 July 2011

Australia plans to build ties with Indian automotive industry




Australia is exploring possibilities of building better ties between its world-class firms and rapidly growing Indian automotive industries to create new export opportunities and help secure the ongoing strength of the multi-billion-dollar auto industry there.  Australian Minister for Innovation, Industry, Science and Research Kim Carr, who is on a three-day maiden visit to India, told media persons here today that his country was looking to build closer links between their innovative automotive companies and the Indian market. 

"With the help of the Australian Government's 'a New car plan for a Greener Future', our auto industry has not only survived the global economic downturn but is transforming and becoming a world leader in new technology," Carr said. 

"This expertise makes our companies attractive partners for international companies including India," the minister said after meeting Indian car manufacturers, including Mahindra & Mahindra and Tata Motors, here. 
Indian companies can especially benefit from new innovations in aerospace industries (in which Mahindra Group is keen) also without any Intellectual Property rights issues especially in building aeroplanes and turbo propellers partnering with Australian industries to produce and supply the world market, he said. 

The Indian automotive and other industries using innovations done in Australia for scaling up and manufacturing parts can benefit with its newly introduced R&D Tax Credit Legislation, Carr said. 

The minister further said the Indian automotive industry wanted to develop more vehicle design, manufacturing processes and low emission technologies and Australia is well placed to provide these innovative products.

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