1.0 Executive Summary: The purpose of this research is to provide assumptions which are aimed at formulating business export potential for Australia. Notwithstanding, the research paper provides an extensive analysis into one of Australia’s major products: Bauxite a mineral element that is produced in bulk in most parts of the country. In this case the potential export market is India since it is perceived as a growing industrial hub across the globe. India’s demand market for Alumina products is expected to rise with respect to increase in its population structure. Further, it is safe to indicate that Australia’s capacity to produce substantial volume of Bauxite calls for immediate expansion in export activities in order to maximize on sales revenue.
In this way the Gillard government of Australia has embarked on formulating effective as well as efficient trade policies and restrictions which are aimed at both increasing trading agreements as well as protection by way of constant maintaining in-progress contracts. Taking into consideration the already established Indian infrastructure as well as investments and political environment it is fair to postulate a substantial increase in the trading contracts in terms of exports to the country as a whole.
It is expected that the country’s demand for exports will increase from the current 21.1 % to about 30 %. 2.0 Introduction: In this research paper the main focus entails a clear and deep analysis of India as one of the major trading partners of Australia. As a country, India is considered colorful and rich in terms of cultural assortment. Consequently, the country portrays some elements of inconsistencies in the sense that it possesses vast buildings as well as ancient monuments which co-exist within the ever-growing modernized industries. India boasts of being one of the world’s most industrialized countries as well an economy that is considered to be growing at a much faster rate as compared to most of other Asian countries.
This growth and development has instigated so much potential in terms of export markets. It is for this reason that Australia took to enter into numerous trade arrangements between the two countries. Australia exports to India include such goods as Coal, non-monetary forms of gold, copper ores, wool as well as agricultural products like fresh vegetables.
These countries also enjoy both multilateral and bilateral trade agreements (Workman 2007). The main potential product to be introduced to the Indian Market is Alumina. The major reason for selecting this product is because of its untapped market in India also it is perceived that India imports mostly minerals while Australia is rich on the same. A Report on “Individual Trade Project”: India Export Market3.0 Business and Trade Environment in IndiaIn terms of potential business as well as trade opportunities India is considered to be a prospective destination.
This fact is derived out of several facets which gives India an upper hand over other Asian countries which may be interested with Alumina. These facets are discussed as below: Information on Industry Developments: as earlier stated, India boasts to be one of the most industrialized countries within the Asian Market. This is made possible by the large skilled labor market existing within the Indian economy as a whole. The aspect of industries is also catapulted to achievable and established levels out of the ever-growing Foreign Direct Investments into India’s industrial sector.
More investors are perceived as having interest into the market out of the fact that India has a substantial population which will acts towards providing a ready market. It is worth noting that the Indian government has allowed cities like Mumbai to host significant mineral-processing industries which is a factor that promotes ease in market hubs (Australian Business Consulting & Solutions 2010). Investments: vast oversees campaigns conducted by the Indian fraternity has promoted Foreign Direct Investments (FDI). FDI portfolio on mineral-related industrial activities has been encouraged and it will be fair to postulate that Alumina products have an upper edge over most of other minerals needed by the Indian market.