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Australia's trade with India to reach 40 Billion US Dollars by 2015
Australian Consulate General for South India David Holly said this while inaugurating the new Andhra Pradesh office of Oakton, an Australian consulting and technology firm founded in 1988, which has an annual turnover of around $200 million.
AUSTRALIAN CONSULATE General for South India David Holly said that trade between India and Australia is targeted to grow to the level of 40 billion US Dollars by 2015, as against 22 Billion US Dollars in 2010. Speaking as Chief Guest at the inauguration of Australian consulting technology Oakton’s new facility in Hyderabad on Friday he said it was only 8 Billion US Dollars in 2005.
 
He said that Andhra Pradesh will play big role in expansion of Australian trade and investments in India. He said they are visualizing large scale corporates investments in this part.
 
Recalling that both the countries having common barriers and history, he said both the countries are committed for comprehensive and enduring partnership. He said that India is the only country where Australia has increased its diplomatic presence by over 50 per cent.
 
He said that there are only 12 countries in the world whose GDP is higher than Australia, and it has had no recession since 1991.  Oakton is an Australian consulting and technology firm founded in 1988 and its present annual turnover is around $200 million. In 2007, when it first considered establishing an offshore facility, its first choise was India and the preferred location was Hyderabad. The original office accommodated 130 employees and present location has 160 employees.
 
Sri Chaitanya Educational Institutions Executive Director Mrs Boppana Sushmasri  said that for past ten years over 23 per cent of professionals coming from India are from Andhra Pradesh, and no single company well established in the world is without a graduate from Andhra Pradesh. "The level of commitment among professionals in AP is extremely well," she added.
 
Oakton Chief Executive Officer Neil Wilson said the new building, which is four times the size of its previous building demonstrates its commitment to the people and to Hyderabad, and is part of an investment approximately Rs 25 crore over nine years. He said the Australian Stock Exchange listed Consulting and Technology Company expects staff numbering to reach 200 by the end of calendar year 200 and the building is suited for an overall capacity of 400 people. Oakton Vice President Indian Operations Dennis Papakyriakopoulos also spoke.
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