By SAT News Desk
MELBOURNE, 11 September 2021: The Australia India Business Council (AIBC), in collaboration with the ACT AIBC Chapter, has launched the Industry Chapter for Defence and Security.
An AIBC Media release says: “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.”
The AIBC decision comes as India has raised the FDI limit in defence manufacturing opportunities which allow 74 per cent 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.
The AIBC feels the 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.
Joe Williams who is heading the new panel has over 25 years of work experience working in India, Australia, and the US. Joe also has extensive experience working with Australian and Indian defence issues.
“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 has 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 contributing 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.