Joe Hockey

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G20 Finance ministers meeting in Cairns, 20-21 Sept, 2014 made some very important policy decisions!

24rd Sept, 2014

G20 meeting of Finance ministers and Central Banks Governors on 20-21 Sept, 2014 at Cairns was an important meeting. It made many policy commitments, which, if implemented, will help the world economy significantly.

G20 is the group of 20 important nations comprising of Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union.

It has the 85% of the global GDP and 75% of the global trade.

This G20 meeting was chaired by Joe Hockey, Australian Treasurer. Indian Trade minister, Mrs Nirmala Sitharaman attended the meet. Reserve Bank of India Governor, Mr Raghuram Rajan also attended it. Finance minister, Arun Jaitley, could not attend it due to illness.

It has put out a communique at the end of the meet. Link is here: http://www.dailymail.co.uk/wires/reuters/article-2763870/TEXT-Communique-G20-Finance-Ministers-Central-Bankers-meeting.html

Salient outcome of the meeting:

  • More than 900 policy initiatives, most of them new
  • plans/policies to increase global GDP by 2% by 2018
  • Plans/policies add $US2 trillion to global economy by 2018
  • Plans to create millions of jobs
  • Plans/policies to boost infrastructure investment, with creation of database to match quality projects and investors
  • Labour market reform
  • Policies to curb tax avoidance and evasion ie  “black money”

Base Erosion and Profit Shifting (BEPS) action plan requires a commitment to finalising all action items in 2015. G20 meeting endorsed the finalised global Common Reporting Standard for automatic exchange of tax information on a reciprocal basis, providing an ability to tackle and deter cross-border tax evasion.  Information exchange on this will begin automatically between each other and with other countries by 2017,  subject to the completion of necessary legislative procedures.

Black money is a significant problem for many countries. India is a particular victim, but is not alone in this category.  Curbing black money and bringing it back should help the national economies and their people. It is reported (http://www.theguardian.com/global-development/2014/sep/03/one-g20-cracking-down-corruption) that “black money” costs poorer countries a trillion dollars annually.

These policy decisions are good, but only time will tell whether each country implements them fully. Past experience suggests that the implementation of such decisions is less than desired.

Based on information from G20 Information Centre of University of Toronto (http://www.g20.utoronto.ca/), Australia implemented only 69% of its commitments, China 50%, and Saudi Arabia only 47%, after last year’s G20 summit in St Petersburg. Obviously, it will be better if these numbers are in the range of 90-100% bracket.

IMF-OECD expertise will be available to the member nations to monitor implementation of these policy commitments.

G20 Leaders’ summit is due to be held in Brisbane on 15-16th Nov, 2014. Indian Prime minister, Narendra Modi is attending this meeting. This will be the first visit to Australia by an Indian PM in the last 26 years. Late Sri Rajiv Gandhi was the last Indian PM who visited Australia.

 

Dr Yadu Singh/Sydney, Australia

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Australian Uranium to India:Why Australia should sell it to India?

Last year, the then PM, Kevin Rudd and several ministers including the then Deputy Prime Minister, Julia Gillard visited India. India is an important country for Australia on multiple counts. It is a rising global power which is also an important trading partner of Australia. Indian students’ issues aside, both countries enjoy friendly relations with one another. 

We, Indian Australians, have a keen interest in seeing good relations between these two countries.

Both countries must consider the interests of one another while doing business with one another. There are too many things which bind us together. These are our democracies, rule of law, multi-cultural societies, love of Cricket and memberships of the Commonwealth to name a few.

Previous Australian Gov led by PM John Howard did many things to move Australia and India closer. He declared that he would sell Uranium to India as India had impeccable records of nuclear non-proliferation. Other important step in this direction was a decision to initiate a quadrilateral strategic dialogue involving USA, Australia, India and Japan. Yet another was the naval exercises called Malabar exercises involving  Navies from India, USA, Australia, Japan and Singapore. After winning the Gov in 2007, Kevin Rudd led ALP Gov reversed the decision to sell Uranium to India and other steps too became non-operative from one or the other reason. Unhappy with Australia’s policies, India did not participate in Kakadu Naval exercises where even Pakistani Navy showed up.  Basically, Australia-India relations have moved backward since 2007. They moved back a few degrees more after the students’ issues last year. A serious work is required to rectify this situation.

Indian economy is growing and will keep growing for years to come. GFC [Global Financial Crisis] did not affect India as much as it did others. India is on a roll. The only thing which holds India down is the fact that it has a problem in regards to its energy supply. It needs more and more energy for its growth. It  needs as much energy as it can get its hands on. Indian economy’s growth is essential not only for India but it is also essential for the health of the world economy.

India has been exploring all sources of energy supply as its local supply is far shorter than what it needs. India has to import petroleum from the Arab countries and is debating about the gas supply from Iran. Iranian Gas is however problematic as it has to transit via Pakistani territory which is a problem in itself. Pakistani Govt authorities will never be able to guarantee a secure transit due to its weakness and the presence of the “non-state actors” there who are anti-India. In addition, India cannot rule out a war between India and Pakistan which will create problems in the transit of the gas.

India is therefore forced to explore the option of atomic energy. It has no choice. Thanks to the leadership of The Prime Minister, Mr ManMohan Singh and the then US President, Mr George Bush, India has an India-specific NSG [Nuclear Suppliers’ Group] exemption in 2009 which enabled it  to have bilateral nuclear energy deals with USA, Russia, France, Canada and some more countries. India needs a similar deal with Australia which will allow the Uranium sale to India. Australia has about 40% of world Uranium and sells it to China. NPT should not be an obstacle for Australia to sell Uranium to India after the NSG’s India specific exemption and with India’s impeccable record in nuclear non-proliferation. NSG exemption was a testimony to the fact that India has been a responsible country and has never been involved in nuclear proliferation, unlike others in our neighbourhood. Australia supported this exemption. NSG exemption permits nuclear trade by India without signing NPT.

We should remind ourselves about what the former Australian PM, Mr John Howard had said about such sale. He said that it would not be fair to sell Uranium to China and deny that to India. PM Howard was dead right.

When Kevin Rudd’s ALP Gov reversed Mr Howard’s decision, India was upset and disappointed. Indian Australians were upset too. People felt that it was an unfair decision. India had a difficulty to understand the logic behind this decision once India was given NSG exemption with an active support from Australia.  NPT issue is not relevant at all in regards to India as India has impeccable records in these matters. ALP’s policy, insisting on NPT signature by India, is wrong and ill-considered. Australian Foreign Minister Mr Stephen Smith’s press conference in New Delhi is worth going through. It is available through DFAT website. India has never been involved in nuclear proliferation unlike Pakistan and China. China is a NPT signatory but its record in these matters is not that great. Everybody knows the nexus between China and Pakistan. We should not forget how North Korea got its atomic bombs. Pakistan would not have supplied anything to North Korea without the consent of China. Manuals in Chinese language were found even in Lybia which tried to buy things from disgraced proliferators like AQ Khan of Pakistan.

Simply put, it makes no sense for Australian Uranium going to China but not to India. In fact, there is more justification for Uranium sale to India. It will be pragmatic and a smart move if ALP drops its objection to selling Uranium to a non-NPT signatory country like India because India has fault-free records in proliferation matters and this fact has been recognised by the world with the India specific NSG waiver.  ALP decision to not sell Uranium to India has been considered unfriendly by many quarters in India and Indian Australian community. It is a big stumbling block in good Australia-India relations.

I have urged the Australian PM and ALP to give India a “fair go” through emails and my Blog. I argued that it was what was expected from a friendly country. It is not fair to bind Australia with the NPT dogma and not see the whole issue in a realistic way. A friend has to see the problems of  his/her friends properly. Australia is a friend of India. It showed it by supporting the NSG exemption for India in Vienna last year. It shows it by supporting a permanent position for India in UNSC. It is about time that we see it once again by seeing Uranium trade between Australia and India. As we understand, it [ALP] would not have any political fallout from its decision to sell Uranium to India because the Coalition is already in favour of doing so. It should not be a problem to amend Atomic energy Act either, giving an India-specific exemption for Australian Uranium sale to India. I remain doubtful though whether ALP and specifically ALP Left will change its objection in this regard.

I urge my Australian Indian friends to lobby with their local MPs on this matter. We need to pool our energies in persuading the Australian Gov to sell Uranium to India.

Like Lowy Institute’s Rory Medcalf [Ex Australian High Commissioner to New delhi], I and thousands of my friends in Australia do believe strongly that Australia should sell Uranium to India. We find this refusal to sell Uranium to India  unfair and illogical. India needs new and cleaner sources of energy  and nuclear energy is at the top of its list. Nuclear energy will not only help India but it will help the whole world as it will reduce pollution and carbon emission.

A time has come when Australia sees the issues properly and does the right thing. That right thing is to sell Uranium to India.

PM Julia Gillard, if elected on 21st Aug, will get an opportunity to change this illogical policy and sell Uranium to India but will she do it is yet to be seen.

Tony Abbott, if he gets the mandate on 21st Aug, and his team including Julie Bishop, Joe Hockey and Andrew Robb have already reconfirmed their resolve to sell Uranium to India.

We want some significant movement for more meaningful and better Australia- India relations.

The question in our minds is whether ALP will do the right thing or whether it would be the coalition which will do it!

Dr Yadu Singh/Sydney/09-11-09 

singhyadu@gmail.com

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Australia India Day [celebrating Australia Day and Indian Republic Day] function:Report

Report

Australia India Day Function

[Celebrating Australia Day and Indian Republic Day]

Held on the 24th Jan, 2010 [6-11PM]

Venue – Ryde Civic Centre, Ryde NSW 2112

 

Australia India Day Function Council celebrated its first Australia / India Republic Day at the Ryde Civic Centre, Ryde on the 24th January 2012.  The program was an astounding success with more than 500 prominent Indians, representatives from over 20 Indian Associations, and star-studded politicians from both the Labor and Liberal parties from State and Federal level attending this event. 

The celebration started with the singing of Indian and Australian anthems, followed by entre which was followed by the first part of the entertainment programme. The guests were welcomed by Harish Velji and the MC was Dr Yadu Singh. Vote of thanks was given by Ms Shubha Kumar.  

At no time in the past 20 years, any function organized by any Indian Association/s had such massive response for such events.  The only limiting factor in getting more numbers to attend the event has been the capacity of the Ryde Civic Centre function hall. 

One of the major aspects contributing to the success of this program was the enormous representation from both the Labor and Liberal parties. ALP took 2 tables and Liberals took 1 table in our function. More than 40 political leaders and party workers from both sides attended the event.  Prominent people from the political leadership included: 

Hon Ms Maxine Mckew [Parliamentary secretary, Fed Gov & representing Prime Minister of Australia], Hon Mr Joe Hockey [Shadow Treasurer, Fed Parliament & representing Hon Tony Abbott, Leader of Opposition in Fed Parliament],Hon Mr David Borger [NSW Minister], Hon Mr Peter Primrose [NSW minister], Hon Ms Barbara Perry [NSW minister & representing NSW Premier], Ms Angela D’amore [Parliamentary secretary, NSW], Hon Mr Laurie Ferguson [Parliamentary secretary, Fed Gov], Mr David Clarke MLC [Shadow Parliamentary secretary & representing Mr Barry O’Farrell, Leader of Opposition, NSW], Mr Phillip Ruddock [Shadow Cabinet secretary, Fed Parliament], Mr Greg Smith [Shadow Attorney General, NSW], Hon Ms Amanda Fazio [President, Upper House of NSW], Hon Ms Tanya Gadiel [Deputy speaker of NSW parliament], Mr Chris Hayes MP, Mr Michael Richardson MP and Mr Shaoquett Moselmane MLC.

Clr Mark Adler – Canterbury Council, Clr Tony Hay – Hills Shire, Clr Barbara Burton – Hills Shire, Clr Vaseekaran Rajdurai – Holroyd Council, Clr Bill Whelan, Hawkesbury Council, and Crl Trent Zimmerman, North Sydney Council also attended this function.

Hon Mr Amit Dasgupta, Consul General of India, Sydney and Mr Gautam Roy, Consul from the Indian Consulate, Sydney also graced this function with their presence.

In a highly emotional and charged up speech, Mr David Clarke [representing Mr Barry O’Farrell] from the Australian Liberal Party, said that if his child goes to India he is sure the parents in India would treat him as their son and look after him.  On a similar manner, he urged that the Australian Moms and Dads to treat the Indian students as their own sons and look after them.  He went on and paid tributes to India and its traditions by saying that ‘India practices what it preaches. 

Ms Barbara Perry [representing the Premier of NSW] spoke eloquently about the contribution of Indian Australians and declared that violence against Indian/international students will not be tolerated. She said that students are very welcome in NSW. She was dressed in Indian attire which people appreciated with enthusiastic applause. She spoke about the interest of NSW premier and Gov in working actively with the Indian Australians.

Hon Joe Hockey, speaking at the function, said the Liberal party is fully committed to its policy of supplying Uranium to India.  Dr Yadu Singh, while responding to Hon Joe Hockey’s speech encouraged the Labor party to consider similar policy and implement it as early as possible. He explained that the issue of NPT is not relevant in case of India after India has been given an India-specific exemption from NPT by the NSG [Nuclear Suppliers’ Group] in Vienna last year.

Ms Maxine Mckew also spoke very highly of India, Indian Australians and multi-culturalism in Australia. She also explained that India and Australia have a great relations and it will get even better despite some hiccups. She was very impressed with the enthusiastic participation of women Indian Australians in this function. Her speech generated a thunderous applause from the audience. 

All the speakers from both the major parties spoke highly of India, Indian traditions, Indian sports – in particular Cricket, and the Indian political landscape, which stood the test of times for more than 62 years since securing independence from the British rule in 1947. All speakers were enthusiastically applauded by the audience.  

The event was also graced by Mr Amit Dasgupta, the Consul General of India.  Speaking on the occasion the Consul General touched on two fundamental issues.  On the issues related to the Indian students the Consul General paid glowing tributes to the NSW Police force and the political landscape of NSW for containing the student issues in NSW.  As a clear indication to vindicate this matter the Consul General said that out of the 1340 attacks on Indian students in 2009, only 13 such attacks occurred in the state of NSW and South Australia – the States which fall under the jurisdiction of Mr Amit Dasgupta.  He further stated that these statistics do not however condone the vast majority of attacks on Indian students that occurred and still occurring in other States.  He urged that the law enforcement agencies and the political parties should work closely in this direction and ensure safety of the Indian overseas students 

On a second major issue, the Consul General spoke about exploitation of the Indian students by Indian business – in particular the food/restaurant industry whereby the restaurant owners pay less than the wages stipulated under the labor law.  He insisted that all business owners must do ethical business.  He further went on to say that ‘I will not attend any function where he is not assured of suppliers to that function follow ethical standards in conducting their businesses’.  The entire hall including all the politicians from both major parties echoed with a big applause. 

The overwhelming response to this event is an indication of the ‘changing times’ and ‘changing outlook’  to the leadership and responsiveness to the current issues and challenges being faced by various sections of the Indian migrant and student community living in the State of New South Wales.  

Surely the representation of more than 40 students from the International Student community is an indication that they want to hear from the leadership and also from the large number of politicians on their views and actions proposed to be taken to address their issues. The Chief of VETAB [Ms Margaret Willis] and her assistant, Mr Shona Tannock and Mr Robert Redfern, Commander, Parramatta Police command [representing NSW Police Commissioner] were present as our guests. Ms Willis’ and Mr Redfern’s presence was meant to send out the message that quality of training and safety of students are 2 key issues in relations with Indian students.

It is noteworthy that students had paid at a very subsidized rate and all others including the organizers, except a very small numbers of VIP guests, had bought the tickets for their participation in the function.

The representation from more than 20 Indian Associations is a clear indication which shows they are bewildered with the current policies and practices, and financial management of our current top associations and leaders. The one fundamental reason for this large support stems from the fact that they found a new leadership in the AIDFC which can respond to the current issues and make representations at both Australian and Indian Government levels with a solid and united voice.   Some of the major Indian organizations who supported the event included the India Club, The Sydney Sangat, Australian Punjabi Business Association, Australian Indian Business Congress, Punjab For Ever, The Australian Tamil Association Inc (ATA), Hindi Samaj and the Aligarh Muslim University Alumni Association (AMU) in addition to others.  

ACR International Tours and Travels added spice to the event by offering one return air ticket through Singapore Airlines for auction.  The auction added nice A$1,000 to the much badly needed money for the ‘benevolent fund project’. Mr Navneet Chaugar was the winner of this ticket. For the raffle draw which helped us collect about $750, the Good Guys offered a Plasma 26 inch TV which was won by Councilor Bill Whelan of the Hawkesbury City Council.  Congratulations to the winners! 

Media-both Indian and Australian, were represented with Indian Link, The Indian, Punjab Times, Hamare Rang [Pakistani] and most importantly, Channel 9 team present in the function. This was the very first time that Channel 9 crew was present in an Indian function.

Many other ethnic community leaders also graced the occasion with their presence.

The Future – the AIDFC Benevolent Fund

AIDFC has made a number of public announcements at the function to the community as a part of its commitment for the future.  Prominent among them is the creation and implementation of the AIDFC’s Benevolent Fund.  We are committed to get this fund going and make a significant contribution to the well being the Indian migrant and student community, our fellow Australian community and finally to our mother country – India.   

Finally we promise you that we will provide you a solid leadership and will representation at various levels.  We will have clean governance in all matters of the AIDFC management – in particular finance management. We will adopt an ‘open book’ approach in all these areas.  Consideration will be given to broaden the current AIDFC to include more Associations, individual members and businesses.  The community will be getting more frequent updates in the coming weeks and months! 

Ghungurus Group of Shalini Patel was the provider of the entertainment programme which was of 50 minutes duration and had the mix of Bhangra and Bollywood songs/dances. Every one enjoyed it tremendously.

Catering was done by Billu Group with great food, dessert and wines.

This function was so well attended and so well done that it has become a matter for the discussion among Indian Australians and the political eaders in NSW and Canberra.

This function has now become the talk of the town.
 
 JAI HO! 

Dr Yadu Singh

President

Australia India Day Function Council (AIDFC)

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Email: singhyadu@gmail.com

31st Jan, 2010