India is quickly becoming one of the largest economy in the world, soon to overtake the UK according to projections. With this in mind, global trade investment opportunities in India are rapidly emerging, and a market gap has been identified. Because Australia is India’s fifth largest exporter of Australian goods, it is easier for established Australian exporters to continue doing Indian business.
However, it should be noted that doing business in India has its own set of challenges, but the Indian government has put in place initiatives to help the process along. The goal is to enable global practices to be implemented in India in order to bridge the social, environmental, and business challenges. Furthermore, India has established a few smart city programs, allowing foreign investments to progress further and promoting foreign-based business growth.
Because the Australian has already established a rapport while doing business in India, encroaching further into the Indian market would be easier in terms of knowing the player. The following are some of the most significant opportunities for Australian exporters.
India is one of the countries in the world that produces a significant amount of milk each year, with approximately 200 million tonnes produced in 2020/2021. However, it should be noted that only a portion of that amount is processed by milk cooperatives and private processors. However, the dairy industry has faced numerous challenges because the current model is a low input/low output model in which aggregating small milk producers cannot keep up with the 15% mentioned previously.
That is where Australian dairy industry services and technologies can be implemented in India. The goal of shifting to a high input/high output model is to increase yield per animal despite the fact that the animal to ratio is saturated.
Some of the ways that Australia can improve the dairy industry when doing business in India are as follows:
- Exporting management skills and training farm managers and farm workers to improve processes.
- Introduce new technologies and services that can help feedlot dairy farms achieve the high input/high output model vision.
- Concentrate on cattle nutrition (including fodder seeds, hay/allied products, feed formulation, and so on), as well as breeding and rearing strategies.
- Improving veterinary skills, such as fertility and disease management.
- Implement measures to ensure milk quality and safety.
- Invest in dairy cow genetics to improve milk quality.