India Australia Lexicon
For an Australian visitor to India (or an Indian visiting Australia), some of the business, financial, or even cultural terms you hear can sound unfamiliar and often, we pause to grasp their meaning. However, many a time understanding such words or phrases may be as easy as understanding its equivalent in our country.
Through this segment of our newsletter, we will help decode some of those nuances across the India–Australia landscape, presenting few such words in each edition. Understanding equivalents is often the fastest route to clarity. And sometimes, using the local vocabulary of the other side makes your message clearer, your intent sharper, and your collaboration smoother.
India | Australia | Context / Description |
| PAN (Permanent Account Number) | TFN (Tax File Number) | Unique identifiers for individuals and entities for tax administration — issued by the Income Tax Department in India and the ATO in Australia. |
| Aadhaar (Unique Identification Number) | Medicare / MyGov ID | Aadhaar is India’s 12-digit biometric-based national identity number issued by UIDAI, used for identity verification and access to public services. Comparable to Australia’s digital identity ecosystem (MyGov ID) and Medicare number used for authentication and service access. |
| Private Limited Company (Pvt Ltd) | Proprietary Limited Company (Pty Ltd) | The standard private-company format offering limited liability. Incorporated under the Companies Act (India) and Corporations Act (Australia). |
| Registrar of Companies (ROC) | Australian Securities and Investments Commission (ASIC) | Both act as the national company registry and compliance regulator. |
| Mutual Fund | Managed Investment Scheme (MIS) | Both pool investor money into diversified portfolios managed by professionals. Regulated by SEBI in India and ASIC under the Corporations Act in Australia. |
| BSE Sensex / NSE Nifty | ASX (Australian Securities Exchange) | Benchmark stock market indices and primary securities exchanges in their respective countries — representing major listed companies and market sentiment. |
| Chai Break (or a Tea Break) | Coffee Catch-up | Informal workplace or social breaks that foster connection and conversation — integral rituals of camaraderie. |
| GSTIN (Goods and Services Tax Identification Number) | ABN (Australian Business Number) | In India, GST is a separate identifier given by the GST Department, unlike Australia which uses ABN for the purpose of GST and is issued by the Australian Tax Office (ATO) |
| SEBI (Securities and Exchange Board of India) | ASIC (Australian Securities and Investments Commission) | Regulators overseeing securities markets, intermediaries, and investor protection. Note however, ASIC also acts as Company Registrar, which role in India is undertaken by the Registrar of Companies (ROC) |
| RBI (Reserve Bank of India) | RBA (Reserve Bank of Australia) | Central banks responsible for monetary policy, financial stability, and currency issuance. However, they have varied unique roles too – for example RBI has sole oversight of banks in India; while RBA shares that with APRA |
| Demat Account (short for Dematerialised Account) | CHESS Holding | Electronic systems for holding securities in electronic form by shareholders in a depository without physical certificates |
| Macca’s | McD | McDonald’s popular slang term in Australia is ‘Macca’s’, and it is ‘McD’ in India (though referring it as McDonald’s is equally prevalent in India). |
| Board Resolution | Directors’ Resolution | Formal board-approved decisions for governance and compliance. |