'India-Australia Economic Cooperation to drive bilateral trade'
CHENNAI: India- Australia bilateral trade will improve after the implementation of the Economic Cooperation and Trade Agreement (ECTA), said Abdul Ekram, Trade and Investment Commissioner of South Asia. The interim ECTA signed in April was yet to be ratified by the Australian Parliament.
Speaking with TNIE, he said the deal will help the India pharmaceutical companies in India by easing their supply chain and providing food and Agri industries in Australia access to the Indian markets.
“Australian lobsters, lentils, avocados, and grains will have tariff reduction as the result of this deal. It will also bring down the cost of medical devices and Australian wine in India,” he said.
As part of the India - Australia Business Exchange Mission, delegates from more than 100 Australian companies are visiting major cities in India, including Chennai, Mumbai, New Delhi and Bengaluru to explore manufacturing, and export opportunities and to stabilize the supply chain, in the context of geopolitics with China. The meeting will focus on five sectors namely – International Education, Digital Health, Critical minerals Infrastructure, and Food and Agriculture from September 26 to 30.
He was interacting with TNIE at the Study Australia Roadshow organized by the Australian Trade and Investment Commission, a Government agency, to provide information for students and teachers to interact with representatives from top universities and government officials about courses, visas and scholarships.
Abdul Ekram said since the reopening of borders from December 2021 to July 22, 2022, over 2,60,000 student visa holders have arrived in Australia out of which 1,29,000 visa holders are from India. 27,681 students have commenced their education this April and it has surpassed the pre-covid levels, he added.