Monday, June 2, 2014

India figured among top 10 markets for Australia - AIBS

India has figured among the top 10 markets for the international business community in Australia’s International Business Survey (AIBS). India has also emerged as the most challenging of the top 10 countries to do business with.

The AIBS found that India ranked as ninth important market currently. The country was also seen as the third important future market. The survey found that the most important market for international business for the participants varied by the industry. For India it is education and training industry stood as the most important market for Australian international business community. On the list of top most important overseas markets in terms of international revenue, India stood at the ninth position, while US and China took the first and second rank respectively. 

On rating the ease of doing business in their most important markets as compared to Australia, only 9 per cent of businesses perceived India as an easier or much easier market than Australia, with 81 per cent regarding it as more or much more difficult.

While strong growth prospects are the most important reason provided for planning on doing business in India in the future, personal contacts/networks do play a secondary role.

AIBS 2014, a comprehensive study of Australian companies involved in international business, was commissioned by Export Council of Australia with the support of Austrade and Export Finance and Insurance Corporation, and conducted by University of Sydney between October and December last year.

The survey captured data from more than 1,600 Australian businesses, reflecting the opinions of a wide range of firms from diverse industries operating in over 120 markets.

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