Coimbatore chosen as preferred destination

Coimbatore,Jan27 (PTI) Australian States of New SouthWales and Sydney today invited entrepreneurs andindustrialists from Coimbatore to invest there, especially inthe Engineering, biomedical sectors and also textile sectors.

Both the States have chosen Coimbatore as the preferreddestination for attracting investments, following the strongpresence of India''s top companies from these sectors in theregion, Rohit Manchanda, Director, Trade and Investment,Indiafor New South Wales, told reporters here.

Stating that the Governments of Australia and India hadagreed to support cutting-edge biotechnology research, fundingeight collaborative projects between the scientists, Manchandasaid this initiative would help develop partnerships to tacklethe big issues facing communities in Australia and India, inhealth, agriculture, energy and water management.

When asked about investment pattern, he said that it couldbe any kind of projects, be it individual or joint venturesand with transparent and conducive policy, it would not be anyproblem for Indian industrialists in Wales.

He also said that New South Wales had recently signed MOUwith Gujarat Government in vocational education field, andtrain trainers in 15 courses.

With Wales contributing 33 per cent--402 billion dollars,to Australian GDP, the bilateral trade between India and NewSouth Wales amounted to 1.75 billion, Manchanda said.

Since Australia was strong in Irrigation andagri-business,Coimbatore, which was popular for pumps andmotors, would have adequate business potential to tap in boththe States, Manchanda added.