“Around one-fifth of Australian businesses and institutions active in India have a presence in Tamil Nadu,” he said delivering the Guest of Honour Address at the 190th Chamber Day Celebrations of the Madras Chamber of Commerce & Industry (MCCI).
Another 12 Australian companies have branch offices in the State. These companies collectively support approximately 5,000 jobs for Indian nationals, Noble pointed out.
He also noted that the global economic landscape is undergoing significant changes, with trade and investment rules being reshaped and supply chains shifting.
Noble stressed on the importance of reliable and stable partnerships between countries such as Australia and India to strengthen economic resilience, promote investment and support long-term development.
The Australia–India relationship, built on trust and cooperation over the past decade, is entering a new phase of greater scale, momentum and opportunity, he added.
The Economic Cooperation and Trade Agreement (ECTA) between the two countries, which came into force in 2022, is a significant milestone in bilateral trade relations, Noble said.
He noted the tariff benefits available under the agreement and highlighted the substantial growth in trade between the two countries.
Noble also emphasized the complementary strengths of the two economies-stating that Australia provides critical minerals, energy resources, advanced technologies and skills, while India offers manufacturing capabilities, innovative services and a skilled workforce.
He also noted that the ongoing negotiations between the two countries for a Comprehensive Economic Cooperation Agreement (CECA), could further deepen trade and investment relations and expand opportunities for businesses in both countries.
According to Noble, Australia’s roadmap for strengthening economic relations with India, focuses on four key areas: Clean energy, Education and skills, Agribusiness and Tourism.
Emerging technologies and resilient supply chains were also identified as important areas for collaboration, he added.
Noble also cited the Australia–India Partnerships on Cyber and Critical Technology and Supply Chains (PACS), agreed upon by the two Prime Ministers in July, as an emerging area of bilateral cooperation.
He also noted that Tamil Nadu is an industrial powerhouse, with strengths in automotive manufacturing, electronics, defence, textiles, pharmaceuticals, technology and skill development.
Noble emphasized Tamil Nadu’s importance in India-Australia relationship, given the State’s industrial strengths, skilled workforce and established Australian business presence.
He pointed out Ansell, a global manufacturer of medical and industrial gloves and protective clothing, had invested over Rs 700 crore in a new factory in Erode, near Coimbatore.
The facility currently employs approximately 400 people, with plans to increase employment to around 700, illustrating the potential for further Australian investment in Tamil Nadu’s manufacturing sector, Noble said.
His address also highlighted Tamil Nadu’s strategic role in attracting investment, generating employment and facilitating collaboration in manufacturing, clean energy, technology, education and supply-chain development.