Playing India... (not just at cricket)

Australian politicians, corporate management and investors are starting to pay more attention to India's structural demographic tailwinds.
Mugunthan Siva

India Avenue

As global investors shift their focus to resilient growth markets, India has become an attractive destination, and Australian companies are seizing the opportunity. From infrastructure and resources to telecom and healthcare, ASX-listed firms are steadily integrating themselves into India’s economic rise.

Macquarie Group (ASX: MQG) has been a leader in infrastructure financing in India, supporting toll roads, renewable energy parks, and public-private partnerships. With India’s infrastructure spending expected to surpass USD $1.4 trillion by 2030, Macquarie’s significant investment in transport and energy assets positions it as a key player in the country’s growth story.

BHP Group (ASX: BHP) continues to provide metallurgical coal and critical minerals to Indian steelmakers, while also exploring opportunities in copper and potash—key for India’s EV goals and agricultural needs. With India boosting domestic manufacturing and clean energy efforts, BHP’s resources align well with the country’s industrial priorities.

Telstra (ASX: TLS) runs a significant offshore hub in Pune, playing a key role in global operations and digital transformation. With India’s rich tech talent and cost advantages, the country is vital to Telstra’s innovation and customer service goals. The company is expanding its presence in India, moving beyond back-office tasks to focus on strategic tech development.

ANZ Bank (ASX: ANZ) is taking advantage of the Australia–India Economic Cooperation and Trade Agreement (ECTA) to expand its presence in trade finance and corporate banking. With growing trade and investment flows between the two countries, ANZ is well-placed to support cross-border transactions and provide treasury services for both Indian and multinational clients.

CSL Limited (ASX: CSL) is strengthening its presence in India by expanding biopharmaceutical and vaccine distribution through strategic partnerships. With India’s healthcare sector evolving and demand for advanced therapies increasing, CSL’s move into the market aligns with its global growth goals and commitment to improving public health.

India’s growing middle class, now surpassing 430 million, along with consistent GDP growth projected at 6.5% by 2025, provides a great opportunity for Australian businesses seeking expansion, diversification, and long-term gains. The ECTA agreement has reduced tariffs and opened up new sectors, while Australia’s Southeast Asia Investment Financing Facility (SEAIFF) supports regional development with financial backing.

ASX-listed companies are doing more than exporting goods and services – they’re becoming a part of India’s growth story. From infrastructure and energy to finance and healthcare, Australia’s leading firms are forging connections that transcend trade, aiming for deeper integration and mutual prosperity.

Naturally, these corporations currently have less than 5% of their revenue tied to India's growth. For investors looking for broader, more direct exposure, a single-country-focused India Fund or ETF might be a better fit.

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Mugunthan Siva
Managing Director
India Avenue

Mugunthan Siva is Managing Director of India Avenue, an Australian based boutique investment management company, domiciled in Sydney, with a presence and advisory network in India. He has over 30 years experience in Australia and is lead...

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