Macquarie Business School is upskilling the next generation of treasurers in India.
Macquarie Business School (MQBS) was ranked one of the world’s by CEO Magazine in 2024. Its online MBA program was ranked first in Australia and 16th in the world. Now with Austrade’s support, MQBS has launched a pilot program to bring its top-quality education to India, one of the world’s largest education markets.
The Certificate in Corporate Treasury Program (CCTP) offers micro courses in finance and treasury. The course is delivered remotely in partnership with India’s ³Ô¹ÏÍøÕ¾ Stock Exchange Academy Limited (NAL). Based in Mumbai, NAL is part of the ³Ô¹ÏÍøÕ¾ Stock Exchange of India (NSE).
‘Companies in India are fast adopting global education standards,’ says Leo Bremanis, Austrade’s Trade and Investment Commissioner in New Delhi. ‘This is in driven by India’s ³Ô¹ÏÍøÕ¾ Education Policy 2020. The strategy encourages connection between education providers and industry to achieve global standards.’
Upskilling with Macquarie’s Certificate in Corporate Treasury
MQBS created the CCTP with the Australian Corporate Treasury Association (ACTA). ACTA is Australia’s peak professional body for corporate treasurers and senior financial risk managers. Treasurers manage finance and liquidity in a business while managing risks. They balance day-to-day business cash requirements, medium term funding and long-term financial goals.
The course offers 14 self-guided learning modules across foundation and advanced units. Courses are available online, through an AI-powered learning platform. At the end of each unit, students complete a digital assessment.
CCTP focuses on treasury and corporate finance knowledge, extending to banks and financial service providers. The program is open to new, upcoming and senior treasurers.
MQBS chose to offer a course on treasury because of the growing demand for finance knowledge. The request came after discussions with NSE and the international demand for India’s financial services. Companies in Australia, for example, are outsourcing their processing and finance arms to India.
‘Someone new to treasury may be tasked with preparing cash flows,’ says Lindesay Brine, Associate Dean, Macquarie Business School. ‘Participants can choose the cash flow module and quickly get up to speed. It allows the user to opt in, depending on their short and long-term needs.’
The wider aim of CCTP is to deepen the talent pool of people in the industry. If the 14 modules are completed, participants qualify to join the ACTA at a higher level (Certified). The pilot is at infancy stage, with the aim of growing over time.
Macquarie Business School, Sydney Australia Austrade network opens portal to new markets
Austrade brought MQBS and NAL together in 2022. Through business matching, Austrade curated a short list of leads and proceeded with introductions. MQBS and NAL had mutual aims and they developed the program soon after.
CCTP launched in October 2023 as a pilot program. Austrade supported MQBS to set the volume and market price.
‘India is a volume market,’ says Abizer Merchant, Macquarie International’s Director – India and Sri Lanka. ‘Pricing can be one of the hardest aspects of market entry in India. If you price well, then outcomes improve in terms of volume.’
With Austrade’s support, Macquarie is building its profile in India. This includes attending networking events and functions under the Australia-India Business Exchange (AIBX) program. It also includes ministerial visits, the Study Australia Showcase and Australian Providers’ forum.
With Austrade’s support, MQBS aims to deepen the relationship with NAL. Its new education model means MQBS can provide quality education in a volume market.
Future plans
Over 100 million people have joined India’s workforce since 2020. India is predicted to have one of the world’s largest workforces by 2030. Its labour force will grow to be over one and a half times Europe’s population by 2047.
This growing workforce offers opportunities for Australian education providers. Mumbai is home to the largest derivates stock exchange in the world. With rising education rates among India’s young people, there is growing demand for treasury and finance certifications.
‘Business in India can be vast and overwhelming,’ says Abizer. ‘Austrade has helped us to navigate our path to market, curating valuable leads. We look forward to exploring these prospects further.’
Beyond India, MQBS will also consider export opportunities in Southeast Asia and New Zealand.
Australia India Future Skills Initiative
Austrade’s support of Macquarie is aligned to the Australia India Future Skills Initiative (FSI). FSI is a 4 year (2022-2026) national priority.
The strategy supports Australia with first-mover advantage as the training partner of choice for India. FSI supports the growing demand for skills training in India through two-way partnerships. Austrade is working with Australian TAFEs, registered training organisations, universities and education technology providers.
