Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
ECTA between India-Australia to unlock new potential in trade and investment: Albanese.
Mar 10, 2023
Australian Prime Minister Anthony Albanese, who is on a 4-day official visit to India, on Thursday said the Economic Cooperation and Trade Agreement (ECTA) signed between the two countries is a transformative agreement, which will unlock the next level of potential in trade and investment.
Addressing the India-Australia CEO forum in Mumbai on Thursday, Albanese expressed his sincere appreciation for the large turnout of Australian investors that came to India as well as for the key Indian business houses that participated in the event.
He added that the delegation of Australian investors is one of the most serious and high-profile ones to have visited India from Down Under.
The Australian PM also voiced optimism about the complementarities between both nations, saying that this juncture is a turning point in accelerating economic cooperation and mutual benefits in the relationship between the two countries.
Union Minister Piyush Goyal also participated in the CEO Forum along with Senator Don Farrell, minister for Trade and Tourism in the Australian government.
Goyal noted that the current goal of doubling the bilateral trade must be reset by the industries and CEOs present there as there was great potential to increase trade manifold between the two nations. He also reiterated the growth potential of the bilateral trade and investments between India and Australia.
The Union minister, from his previous visit to Australia in April 2022, recounted an example of his interaction with the CEO of Cochlear (an Australian hearing implant manufacturer). After the interaction, he reassured them that their current market share in India was only a minuscule of the potential for the business, given India's population, rapid growth in the middle class and the growing demands of the overall economy for a better lifestyle.
The Forum was organised by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, along with the Confederation of Indian Industry (CII) in order to leverage the ever-growing trade and investment between the two countries. The forum was co-chaired by Anish Shah, MD and CEO, of Mahindra Group and Shemara Wikramnayake, MD and CEO, of Macquarie Group.
Senator Don Farrell pointed out that USD 2.5 billion worth of trade benefitted from the lower tariffs arising from the ECTA agreement in Jan 2023 alone and reassured that this growth will continue to rise further. He urged the industry to think much bigger to satiate the demands of the growing relationship.
Both ministers welcomed the convening of the India-Australia CEO Forum and encouraged businesses on both sides to explore emerging economic and investment opportunities.
The ministers also expressed satisfaction at the progress of bilateral engagements and affirmed their commitment to further deepen and strengthen the Comprehensive Strategic Partnership for mutual benefit.
A four-year extension MoU was also signed between the Confederation of Indian Industry and the Business Council of Australia in the presence of Albanese. This partnership is tipped to go a long way in furthering the business relationship between the two countries.
The event also saw the participation from CEOs of leading companies from India and Australia across the sectors like metals and mining, telecom, food processing, education, pharmaceutical, healthcare, medical devices, banking, aviation, education, IT, auto and institutional investors.
The forum participants discussed 'How to enhance Economic, Trade and Investment relations between India and Australia, across sectors'.
The two countries have a long-standing relationship, characterised by shared values of democracy, multiculturism, economic opportunities and most importantly vibrant diaspora with strong people-to-people links. Both countries value free and open societies, respect for human rights, and the rule of law.
In the fiscal year 2022, India was Australia's 9th largest trading partner. Major exports to Australia include petroleum products, textiles and apparel, engineering goods, leather, pearls, mechanical appliances, iron and steel and gems and jewellery. Major imports include edibles, dyeing extracts, chemicals, wool, minerals and precious stones.
economictimes.indiatimes.com
Archive