7 ways Australia could build relations with India to balance China

While it is true that India is not just another China, there is a good risk management case for improving Australia’s trade and diplomatic relations with India.

To give energy to this relationship, Australia should take eight urgent steps:

(Keep in mind most of this relates to “post-Covid” but some could action now)

First, we should be flat out campaigning to get more Indian tourists down under. They now have the money, and a campaign for tourism would also communicate our culture to the broader Indian public. Let’s get Australia on the billboards, on the cable TV and in the cinemas in India.

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Second, encourage Bollywood to make more films down under and help them show the diversity of the Australian population and culture.

Third, reinforce our intellectual property and leadership in the twin areas of high demand over there – health and education.

Fourth, take more initiatives to exchange knowledge and services in the waste management and waste disposal fields – we are pretty good in this, with some of the cleanest cities in the world, and India is worried that rubbish is taking over their country.

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Fifth, create ways we can work closer on sustainable energy.

Sixth, make sure Indians are aware of our global leadership in fields such as wealth management, a growing need over there. The best way to do this would be to increase our investment into India.

Seventh, provide cultural training to Australians in all fields who are to visit India, so that our blundering around (which we often see as down to earth and friendly) does not continue to cause offence or confusion among our hosts.

India post-Covid to get major economic boost from the rural economy

The Covid19 pandemic has crippled India’s urban economies.

But fortunately for India, the rural economy is stepping up.

Over two thirds of the population and 70 per cent of the workforce of India are in rural areas. The rural economy is now 46 per cent of national income.

And India’s 650,000 villages have money to spend.

How is this happening?

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Bharat, or rural India, is thriving – it is a combination of bumper crops, good monsoons and Government handouts.

In India’s auto sector, biggest demand is now rural – for tractors and two wheelers.

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Rural unemployment peaked at 26 per cent in May but by June 21 had dropped to 7.3 per cent.

For once in a long time, the Indian rural economy is the good news and could be the big driver post this pandemic.

India to benefit from Industry 4.0 says head of Rolls Royce

The fourth industrial revolution also known as Industry 4.0 or a new age of connected technologies and data-driven insights is now upon us and is changing the way we live, work, and interact with each other.

One of India’s inspirational business leaders is Kishore Jayaraman, President, Rolls-Royce, India & South Asia. He has a vision for India and Industry 4.0.

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Industry 4.0 is all about innovative technologies, such as artificial intelligence (AI), mass automation, industrial communications, Big Data, robotics and 3D printing.

According to HSRC’s “Global Industry 4.0 Market & Technologies 2018-2023” report, the global Industry 4.0 market is projected to reach US$214 billion by 2023.

The Indian government estimates India’s manufacturing sector would breach US$ 1 trillion by 2025.

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But Kishore Jayaraman (pictured above) warns that Indian manufacturers need to move beyond the current status, characterized by manual inputs, lack of ICT integration in manufacturing, and critical gaps in capability, to move to the next stage and fill the critical technology gaps.

He says: “To that end, government’s ‘Make in India’ initiative is providing the groundwork for both small and large companies to develop advanced manufacturing capabilities and invest in technology upgradation.

“Additionally, programmes such as green corridors and smart cities have been launched to support critical technology interventions across various industries. Besides creating jobs, these initiatives appeal to a new generation of workers with different values and skills that boost synergies,” he said.

Here’s how he sees India benefiting from Industry 4.0:

First, it will allow manufacturers to improve productivity, efficiency, safety and performance and help position India as a global manufacturing hub.

Several Indian e-commerce companies are using advanced data analytics to gain insights on customer behavior and improve business performance. Likewise, manufacturers can implement data analytics to improve forecasting, predict and prevent manufacturing downtimes, manage supply chain and enhance production capacity and quality.

Second, Small and Medium enterprises (SMEs), which form the backbone of Indian manufacturing, can leverage Industry 4.0 technologies to become more agile, enhance productivity, streamline costs and reduce risks.

Third, employers will be able to increase the skills of their workforce. While some jobs may be lost, new ones will be created in the new economy. New technologies inadvertently require new skills and trained Industry 4.0-ready workforce especially in areas of cognitive robotics, advanced automation and industrial ICT. Training in safety-related skills will also come into play with an increased level of human-machine cooperation.

Finally, Industry 4.0 could provide a pathway for Indian manufacturing to transform to an innovation-led and high-value manufacturing stage. Technology-intensive sectors such as the Aerospace & Defence (A&D), which is at the cusp of innovation and growth in India, are clear beneficiaries.

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At Rolls-Royce, Industry 4.0 is a critical aspect of business and strategy – using connected systems to make better decisions. This brings together a number of technologies, such as the Internet of Things, intelligent manufacturing, digital product verification as well as virtual design and simulation.