Dear Madam,
Congratulations on a good article that summarizes the current state of play for lndian outbound investment (Clear skies ahead?, IBLJ March 2010).
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By way of example of the increased interest by lndian corporates in outbound investment in Australia, Corrs recently hosted a breakfast seminar on South Asia investment in Perth. The breakfast was part of an Austrade information and networking day for a delegation of Indian corporates considering investment into the region. Attendees included general counsel and directors from lndia Resources, Sri City and Hiranandan. Corrs’ corporate advisory partners Byron Koster and Russell Philip gave presentations on Australia’s Foreign lnvestment Review Board and its approach to assessing investment applications as well as dealing with completion risk issues in Australia.
A lively discussion followed on lndia’s creation of economic development zones as hubs for new inbound investment as well. This may be a good basis for a follow-up article, particularly in light of the growing interest in foreign investment into lndia.
Simon Crawford
Partner
Corrs Chambers Westgarth
Melbourne
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