Australia’s Indian Diaspora passionate to trade with, invest in India

A grand event in the newly announced 'Little India' district of Sydney, Australia, on 25 May 2023 was symbolic of continued celebrations 48 hours after the second historic visit by Indian Prime Minister Narendra Modi to the city.

A roundtable with 50 high net worth and top professional Indian diaspora trade and investment leaders was organised by the People of Indian Origin Chamber of Commerce & Industry (PIOCCI), a registered society headquartered in India with chapters globally and in states of India, together with Invest India, the National Investment Promotion and Facilitation Agency of Government of India's Ministry of Commerce & Industry. Both PIOCCI Convener Ameet Nandlaskar and Special Guest Invest India COO Priya Rawat said the select Diaspora group evinced passionate interest in growing the bilateral commerce relationship that will get a boost with the signing of the India-Australia Comprehensive Economic Cooperation Agreement (CECA).

Prime Minister Modi's visit to Sydney has been a showstopper and a pathbreaker. In a departure from usual protocol, Australian Prime Minister Anthony Albanese accompanied Modi and stood with him as Modi addressed nearly 25,000 Indian Australians at the Qudos Bank Arena.

The roundtable event by PIOCCI (www.piocci.org) and Invest India (www.investindia.gov.in) took place at the ballroom of the famous Grand Bawarchi restaurant in Paramatta area of Sydney. The event was graced with the participation of the newly appointed first Indian Origin Lord Mayor of Sydney, Sameer Pandey, and Reena Jethi, the well-known Councillor of The Hill Shire Council, a teacher and an entrepreneur.

PIOCCI Australia used the event to mark the formal launch of its chapter, which will operate as a non-profit community business organisation to promote bilateral trade and investment. The core team of PIOCCI includes Vijay Chennupati, Priyo Batra, Bimal Joshi, Rajkumar V, and Shipra Tiwani, among others. The event was addressed via live video link by Munish Gupta, PIOCCI Secretary and International Coordinator of the parent body. Gupta's PIO TV (www.piotv.com) carried the event as a live stream for nearly 2 hours to PIOCCI members and diaspora business community leaders in Australia, India, and worldwide.

Invest India helps and facilitates investors looking for investment opportunities and options in India. PIOCCI, by its name and charter, is a Global Business Platform working closely with reputed business leaders in India and the Indian Diaspora to promote investment and international trade opportunities among them. PIOCCI was created in 2003 with the advent of the Pravasi Bharatiya Diwas (PBD) launched by the government of India.

PIOCCI's mission is to network with individual People of Indian Origin (PIOs), Non-Resident Indians (NRIs), PIO/NRI enterprises, and other overseas Indian organisations of all sizes to explore new dimensions of building economic partnerships both internationally and in India. A primary objective is to provide vital connections between the Diaspora, India's union government, and state governments. PIOCCI has an entire secretariat in New Delhi. PIOCCI office bearers are community business pioneers in their respective countries. They run their chapters as volunteers but with hired staff.

Indian diaspora organisations worldwide are focused mainly on cultural, political and social connections. Most do not have a footprint in India and every region of the world. PIOCCI, with a growing presence in 50 countries and 12 large states of India, seeks to bridge that gap. Therefore, PIOCCI claims an unparalleled reach and deep understanding of Indian and Diaspora ecosystems, positioning us to present and engage our members in trade and investment opportunities.

People of Indian Origin constitute the largest diaspora in the world. As per the Indian Ministry of External Affairs, there are at least 32 million overseas Indians.

The Sydney visit by Modi and the event by PIOCCI and Invest India propelled nearly 1 million PIOs and NRIs in Australia to escalate bilateral relations to a new high. Notably, the Modi visit to Japan, Papua New Guinea and Australia has set the stage for a new QUAD relationship between Australia, Japan, the US and India and strengthened the OCEANIA region ties with India. Modi chaired the 3rd Forum of Indo-Pacific Island Cooperation (FIPIC) summit with 17 heads of government of island nations in the Pacific.

As partners, PIOCCI and Invest India are expanding global cooperation and have held events just this month of May 2023 in Berlin, Toronto (Canada) with Indian Commerce & Industry Minister Piyush Goyal, and now this one in Sydney.

Invest India's Rawat drew the attention of the attendees to the rise of a new India that's politically, economically and geo-strategically stable and whose economy is poised to grow despite a downturn globally. India marks 2023 also with the G20 presidency and is hosting the G20 Summit and the Shanghai Cooperation Organization summit this year.