Good afternoon and thank you for the warm welcome. Let me also thank the Australia India Business Council for giving me the opportunity to talk to you today.
This obviously has added significance for ANZ having recently joined as a Gold Sponsor of the Council. I want to start by giving you a recent example from motor sport which really brings to life some themes from my talk today. For those of you know me, it’s probably no surprise that I’ve picked something to do with cars.
On the 29th of August, Giancarlo Fisichella took pole position for the Belgian Grand Prix. He was driving for the Force India team which of course is co-owned by the Chairman of United Breweries, Dr Vijay Mallya.
Force India went on to take second place in the race, one tenth of a second behind Ferrari but well ahead of Renault, BMW and McLaren.
Formula One is one of the most technically complex and advanced sports in the world and, to my mind, this was a vivid demonstration of the unique development path India has taken.