To further boost bilateral economic engagement, Union Commerce and Industry Minister Piyush Goyal is set to visit Australia from September 23-25 to interact with leading Australian and Indian CEOs and discuss investment avenues in India. According to a statement by the Ministry of Commerce and Industry, the Commerce Minister will visit the country at the invitation of Senator Don Farrell, Minister of Trade and Tourism of Australia.
Minister Goyal will co-chair with Minister Farrell the 19th India-Australia Joint Ministerial Commission meeting, to be held in Adelaide on September 25, during which both sides will discuss ways to elevate the bilateral economic engagement further. Minister Goyal will interact with leading Australian and Indian CEOs, industry leaders and representatives from Australian pension funds to highlight the vast opportunities for investment in India.
According to the ministry, the interactions with business and industry leaders are being organised by the Business Council of Australia, Centre for Australia-India relations, India Australia Business Community Alliance, AsiaLink Business, and CREDAI. The discussions aim to leverage the complementary strengths and synergies between the economies of India and Australia.
The minister will also interact with representatives of the vibrant Indian community in Sydney, Indian-origin chartered accountants, and emerging leaders of the Indian diaspora from various walks of life. According to the ministry, the visit will add further impetus to the strong and growing trade and investment ties between India and Australia, which have been boosted following the finalization of the bilateral Economic Cooperation and Trade Agreement.
India-Australia bilateral trade (in goods and services) has crossed $48 billion, and it’s expected to double to nearly $100 billion in the next five years The minister would also emphasize ‘Make in India’ and ‘Future Made in Australia’ initiatives, creating more jobs and economic benefits to people of both the countries. “The visit is particularly opportune as it comes at a time when India and Australia have intensified their engagement both bilaterally and in various fora, such as G20 and the Quad, to work together for global good,” said the ministry.
–IANS
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