<?php echo html_escape(strip_tags($title)); ?>

Strengthening Bonds: Australia and India's Thriving Trade and Investment Partnership

By Eram Shaikh --
Friday, 07 Jul, 2023

The Australian Trade and Investment Commission – Austrade – is Australia’s national trade and investment agency. Ms. Catherine Gallagher, Minister Commercial, Australian High Commission and Head of Austrade – South Asia shines light on their efforts in being experts in connecting Australian businesses to the world and the world to Australian businesses. Austrade has been fostering mutually beneficial trade relations between the two countries and helping multiple Indian sectors like infrastructure, agribusiness and critical minerals amongst others to benefit from Australian capabilities.

The Indian Government has an ambitious reform agenda to boost industrial and manufacturing activity and to drive growth in India’s economy. Australia has the complementary skills, knowledge and technology to support this agenda. Examples include innovations across infrastructure, mining and energy. As Australia seeks to transition to net zero, they seek to foster mutually beneficial trade and investment partnerships with India in these key sectors.

In May, Indian Prime Minister Sri Narendra Modi made his second official visit to Australia. This was his first time in Australia since the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) came into force in December 2022. Prime Minister Modi’s focus on building strong business ties was clear.

Ms. Catherine Gallagher said, “I was present at the business roundtable hosted in Sydney by the Indian High Commission and Austrade. Prominent Australian business leaders from the banking, tech, education, health, and renewable energy sectors provided insights into their operations and interests in India. Prime Minister Modi’s keynote address highlighted trade and investment opportunities in India, and how India is a very attractive destination for Australian businesses looking to tap into one of the world’s fastest growing economies.”

During the visit, Prime Ministers Modi and Australia’s Prime Minister Anthony Albanese also announced the finalisation of the Australia-India Migration and Mobility Partnership Arrangement, which promotes the two-way mobility of students, graduates, academic researchers and businesspeople; and welcomed progress towards establishing an Australia-India Green Hydrogen Taskforce.

All of this outstanding business engagement reinforced the importance of the bilateral trade and investment relationship between Australia and India.

Ms. Catherine Gallagher also states, “I am confident Australia and India will continue to be partners in each other’s prosperity. The Austrade team is working towards this every day by helping businesses in India and Australia connect and pursue new trade and investment opportunities.” Further she also expressed, “Forums, like India SME Forum, are one way I am using to raise awareness amongst the Indian business community of the opportunities available in Australia.”

The Minister Commercial, Australian High Commission and Head of Austrade, Ms. Catherine Gallagher also informed about ‘The Australia India Business Exchange (AIBX)’, an Austrade initiative, which is a multi-year program to help Business succeed. AIBX aims to grow the two-way commercial relationship between Australia and India. This is another way the Australian Government is supporting deeper commercial partnerships between Australia and India.

Australia has also released its India Economic Strategy (the IES). The IES made 90 recommendations to government and business, mapping out a pathway to deeper economic integration with India to 2035. The Australian Trade and Investment Commission (Austrade) assists Australian companies to export to India by providing advice, connections to companies in India.

Austrade also works with potential investors providing practical advice, marketing intelligence and introductions to the people you need to meet.

If an Indian business is looking for tariff or regulatory information, they can use the Australian Department of Foreign Affairs and Trade Free Trade Agreement Portal to search the tariff reduction and outcomes for products: https://ftaportal.dfat.gov.au/

Businesses interested in expanding to Australia may also consider contacting a local industry peak body, or reaching out to the Indian High Commission in Canberra for additional information.

Strengthening Bonds: Australia and India's Thriving Trade and Investment Partnership. The Australian Trade and Investment Commission – Austrade – is Australia’s national trade and investment agency. Ms. Catherine Gallagher, Minister Commercial, Australian High Commission and Head of Austrade – South Asia shines light on their efforts in being experts in connecting Australian businesses to the world and the world to Australian businesses. Austrade has been fostering mutually beneficial trade relations between the two countries and helping multiple Indian sectors like infrastructure, agribusiness and critical minerals amongst others to benefit from Australian capabilities.

The Indian Government has an ambitious reform agenda to boost industrial and manufacturing activity and to drive growth in India’s economy. Australia has the complementary skills, knowledge and technology to support this agenda. Examples include innovations across infrastructure, mining and energy. As Australia seeks to transition to net zero, they seek to foster mutually beneficial trade and investment partnerships with India in these key sectors.

In May, Indian Prime Minister Sri Narendra Modi made his second official visit to Australia. This was his first time in Australia since the <a href="https://www.dfat.gov.au/trade/agreements/in-force/australia-india-ecta">Australia-India Economic Cooperation and Trade Agreement</a> (AI-ECTA) came into force in December 2022.  Prime Minister Modi’s focus on building strong business ties was clear.

Ms. Catherine Gallagher said, “I was present at the business roundtable hosted in Sydney by the Indian High Commission and Austrade. Prominent Australian business leaders from the banking, tech, education, health, and renewable energy sectors provided insights into their operations and interests in India. Prime Minister Modi’s keynote address highlighted trade and investment opportunities in India, and how India is a very attractive destination for Australian businesses looking to tap into one of the world’s fastest growing economies.”

During the visit, Prime Ministers Modi and Australia’s Prime Minister Anthony Albanese also announced the finalisation of the Australia-India Migration and Mobility Partnership Arrangement, which promotes the two-way mobility of students, graduates, academic researchers and businesspeople; and welcomed progress towards establishing an <a href="https://www.dcceew.gov.au/sites/default/files/documents/india-australia-green-hydrogen-taskforce-tor.pdf">Australia-India Green Hydrogen Taskforce</a>.

All of this outstanding business engagement reinforced the importance of the bilateral trade and investment relationship between Australia and India.

Ms. Catherine Gallagher also states, “I am confident Australia and India will continue to be partners in each other’s prosperity. The Austrade team is working towards this every day by helping businesses in India and Australia connect and pursue new trade and investment opportunities.” Further she also expressed, “Forums, like India SME Forum, are one way I am using to raise awareness amongst the Indian business community of the opportunities available in Australia.”

The Minister Commercial, Australian High Commission and Head of Austrade, Ms. Catherine Gallagher also informed about ‘The Australia India Business Exchange (AIBX)’, an Austrade initiative, which is a multi-year program to help Business succeed. AIBX aims to grow the two-way commercial relationship between Australia and India. This is another way the Australian Government is supporting deeper commercial partnerships between Australia and India.

Australia has also released its India Economic Strategy (the IES). The IES made 90 recommendations to government and business, mapping out a pathway to deeper economic integration with India to 2035. The Australian Trade and Investment Commission (Austrade) assists Australian companies to export to India by providing advice, connections to companies in India.

Austrade also works with potential investors providing practical advice, marketing intelligence and introductions to the people you need to meet.

If an Indian business is looking for tariff or regulatory information, they can use the Australian Department of Foreign Affairs and Trade Free Trade Agreement Portal to search the tariff reduction and outcomes for products: <a href="https://ftaportal.dfat.gov.au/">https://ftaportal.dfat.gov.au/</a>

Businesses interested in expanding to Australia may also consider contacting a local industry peak body, or reaching out to the Indian High Commission in Canberra for additional information.