Australia India Business Council Ltd (AIBC) establishes new Industry Chapter to foster bilateral opportunities in Defence & Security
AIBC, in collaboration with the ACT AIBC Chapter, launch their newly formed Industry Chapter for Defence and Security at a time when the relationships between Australia and India is most opportune.
As stated in the India Economic Strategy by Hon. Peter Varghese as regional security partners with a growing strategic convergence, there is value in Australia and India exploring opportunities for enhanced defence industry cooperation. As also stated in the Australia Economic Strategy by Ambassador Anil Wadhwa the defence industry in both countries can increase technology collaborations, research partnerships, and aim to increase defence exports.
As part of the Comprehensive Strategic Partnership (CSP), India and Australia concluded a Mutual Logistics Support Arrangement and a Defence Science and Technology Arrangement to facilitate improved collaboration between relevant Australian and Indian organisations.
The QUAD agreement between Australia and India is also providing further momentum to defence cooperation and partnerships between the two countries.
To boost ‘Make in India’ in defence production, the Government of India has raised the FDI limit in defence manufacturing opportunities which allow 74% Foreign Direct Investment (FDI) on many nominated segments of products and services. Apart from Cyber Security, there are several emerging sectors and technologies that will contribute to the defence industry like Artificial Intelligence and Robotics, Unmanned Mobility, Secured Communication, Surveillance and Green Technologies.
Australian industry can tap into the growing Indian market through partnerships with Indian SMEs looking to enter the defence manufacturing space. Australian manufacturers can provide licenses and technology to Indian partners which have local manufacturing capabilities.
AIBC therefore considered it timely and important to establish a new Industry Chapter for Defence & Security to foster the above identified opportunities. The Defence & Security chapter will be supported by Ms Radhika Reddy, President of ACT Chapter of AIBC and chaired by Joe Williams, a member of AIBC in ACT.
Joe Williams has over 25 years of work experience working in India, Australia, and the US multinationals. Joe has extensive experience working with Australian and Indian defence through his various engagements in Australia and India.
“The Quad is now taking on increasing importance in Australia’s defence arrangements. The timing of this appointment is impeccable. It is also appropriate that the ACT Chapter has its first national industry chair located in the ACT, particularly in the areas of defence and security’ said Jim Varghese, National Chair, AIBC.
“I am looking forward to extending any support required for the AIBC initiatives in the Defence Sector from the AIBC ACT Chapter and noting that ADF have recently launched their Data Strategy for 2021- 2023 in which they acknowledge efficient data management is the key to rapid and informed decision making. This is another signal for the two countries to benefit from the expertise of each other” said Ms Radhika Reddy, President AIBC ACT Chapter.
“It is an exciting opportunity and I look forward to contribute to forging of partnerships between Australian and Indian defence organisations, research institutions offering new technologies” said Joe Williams, the newly appointed Chair of the AIBC Defence & Security Chapter.