The global manufacturing industry is at the cusp of major technological transformation, and Australia and India can be dependable partners in this journey. India’s need for global competitiveness in the manufacturing sector, can be matched with Australia’s innovation and capabilities in advanced manufacturing. India could equally supplement Australia’s need for cheaper production costs and high-volume needs. Australia can expand at two levels. First, manufacturing in India, in a cost-competitive environment due to the ample availability of raw materials, cheaper production cost and labour, could be the key for Australian companies to expand their footprint to other parts of the world. ‘Designed in Australia – Made in India’ can be the new focus area for this partnership. Second, Australia’s advance manufacturing offers great opportunities to Indian manufacturers to access new technologies. The changing operational dynamics in the COVID-19 scenario has pressured businesses to de-risk all segments of operations, hence the transition to industry 4.0 and automation has also become important.
- Publication year: 2020
- Content type: Op-Ed
- Form of cooperation: Technical assistance, Humanitarian assistance.
- Cooperation context: Bilateral
- Sector: Infrastructure, Trade
- Institution (publication): Observer Research Foundation
- Author (and co-authors): Natasha Jha Bhaskar
- Keywords: COVID19; Manufacturing; Australia
- Link: ORF Article