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.
Commerce Minister will visit the country at the invitation of Senator Don Farrell, Minister of Trade and Tourism of Australia, according to a statement by the Ministry of Commerce and Industry.
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 further elevate the bilateral economic engagement.
Commerce Minister will interact with leading Australian and Indian CEOs and 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 Business Council of Australia, Centre for Australia-India relations, India Australia Business Community Alliance, AsiaLink Business and CREDAI.
The discussions are aimed at leveraging the complementary strengths and synergies between the economies of India and Australia.
The minister will also interact with the representatives of the vibrant Indian community in Sydney, Indian-origin chartered accountants and emerging leaders of Indian diaspora from various walks of life.
The visit, according to the ministry, will add further impetus to the strong and growing trade and investment ties between India and Australia, which have received a boost following finalisation 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 emphasise ‘Make in India’ and ‘Future Made in Australia’ initiatives, creating more jobs and economic benefits to people of both the countries.
