Indo-Australian ‘young’ firms partnerships to promote innovation

During a summit organised in New Delhi, speakers opined that Australian businesses should explore possibilities of strengthening commercial ties with Indian counterparts and partner with ‘young', small firms than big players in order to build innovation programmes.

Organised by Advance, speakers at the summit also deliberated and discussed about the possibilities in which both Australia and India can redesign entrepreneurial ecosystems, meet future basic necessities such as water, education, renewable energy and resolve challenges pertaining to growing urbanisation in both the countries.

The objective of holding the summit was to enhance people-to-people networks, encourage Indian as well as Australian small firms to recommend effective practices as well as enable them to develop creative partnership strategies. It was not only designed to promote greater partnerships between Indian and Australian small firms, but also to consolidate economic and cultural ties between the two countries.

Increased cooperation between India and Australia is also expected to help businesses, including SMEs of both countries, identify areas of synergy and scope of growth in each other's regions.

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David Parks is a well known author and has written articles on Kitchen Appliances and Refrigerator, suppliers, Manufactures and many other subjects.