Australian healthcare firms are looking to have partnerships with Indian companies in the sector and offer expertise, especially in the area of care for the aged.
A 25-member Australian Health and Assisted Living delegation is in India to share experiences and develop partnerships with their Indian counterparts. Currently in the capital, the delegation will also visit Mumbai and Pune as part of Australia Business Week in India (ABWI) from January 12-16, 2015.
Patrick Kearins, Trade Commissioner and leader of the delegation, said Australian firms are keen to collaborate with Indian businesses to offer solutions to address industry concerns across many areas.
"The delegation is meeting with India's leading hospital and healthcare providers, developers of retirement communities and senior Government of India officials with responsibility for health with the objective of learning about India's broader health, aged care and assisted living priorities and to see where they might be able to contribute through partnerships," Kearins said in a statement.
Australia has one of the most established aged care sectors in the world, having evolved the current model over more than 50 years and can deliver multiple levels of care for seniors, their carers and families, he added.
"The aged care system in Australia is one of the most thoroughly regulated in the world and is used as a model by many other countries," said Kearins.
Nicola Watkinson, Australian Trade Commission's Senior Trade and Investment Commissioner for South Asia, said "this mission reinforces the message that Australia is keen to identify, strengthen and deepen relationships with India".
Australia's healthcare and assisted living (also known as aged care) industries are known for world-leading technology, innovation, professional skills, and advanced research and development, she added.
"This has Australian companies well positioned to share their expertise, provide products and services to countries trying to support their ageing population, namely the elderly and frail people requiring aged care and healthcare," said Watkinson.
As part of the ABWI a 450-strong business delegation from Australia led by Andrew Robb, Australia's Minister for Trade and Investment is visiting India to enhance trade and explore investment opportunities and promote various sectors, including education and tourism.
India is Australia's 11th largest trading partner with two-way trade of AUD 15.2 billion and fifth largest export market, with total exports of AUD 11.4 billion. Total Indian investment in Australia is near AUD 11 billion (up from AUD 600 million in 2006), while total Australian investment in India is over AUD 6.5 billion, the statement said.
