Given that there are one billion individuals in the Indian market, it might come off as somewhat unexpected that Indians are pursuing investment opportunities overseas. However, Mumbai’s very own Kapil Wadhawan is one notable exception, asserting that Australia stands out as an attractive destination for business expansion. As the chairman of Wadhawan Holdings Private Ltd, which operates across a diverse range of sectors including real estate, food, hospitality, and dining—both in India and the United Arab Emirates—Mr. Wadhawan is on a path to make his mark. Recently visiting Australia to focus on a real estate project located in Melbourne's vibrant inner city, he expressed the merits of engaging in international business ventures.
Mr. Wadhawan highlighted the deep-rooted trading relationship between Australia and India, commending the openness of Australians to further engage with Indian partners. “There is a growing sense when we talk to the people here – the policymakers within Australia – that you would like to get more aligned with India,” he articulated. He went on to mention that trade volume between the two countries has increased significantly in recent years across diverse sectors.
His attention is particularly drawn to a prospective site in Melbourne’s inner city, aiming to construct between 800 and 1000 apartments, along with a retail precinct and a hotel. He characterized Melbourne as Australia’s “fashion capital,” noting its tremendous potential spurred by its diverse population and a significant number of international students. Despite recent downturns reported in the Australian property market, he remains unperturbed, asserting, “The city centre lends itself to good development irrespective whether there is a lull in the demand.”
Adding to the discourse, Peter Linford, the senior trade commissioner for South Asia at Austrade, anticipates a rise in the influx of Indian entrepreneurs exploring opportunities in Australia. “It’s broad based and becoming more broad,” remarked Mr. Linford from New Delhi. While initial investments were primarily in the resource sector, he observed a trend toward diversification into banking, information technology, hospitality, manufacturing, and biotechnology.