India and Australia decided, during the 19th session of the Joint Ministerial Commission, to achieve USD 100 billion trade by 2030. Indian Minister of Commerce and Industry Piyush Goyal led the Indian delegation to meeting held in the Australian city of Adelaide, the Indian Ministry of Commerce and Industry said in a statement on Wednesday.
He met with Minister of Trade and Tourism of Australia Senator Don Farrel to discuss ways of boosting bilateral trade and investment. Noting that there are the tremendous trade and investment opportunities yet to be explored jointly by both countries, the Indian minister announced the opening of an investment, trade, technology and tourism office in Sydney. The primary mandate of this office with representation from both private and public sectors would be facilitating trade issues between investors and businesses on both sides, according to the statement..
He also stated that ‘Make in India’ initiative launched by the Prime Minister Narendra Modi helped achieve groundb
reaking advancement in key sectors like manufacturing, technology, and infrastructure and proposed possible collaboration with Future Made in Australia initiative. He stressed India’s strengths in decisive leadership, demand of 1.4 billion aspirational Indians, demographic dividend with average age of Indian being 28.4 years, and democracy. Goyal emphasised India’s advantage in being able to offer an array of aspirational and highly skilled workforce with cutting edge knowledge that could meet Australia’s demand in professional service. Both the sides aimed for expediting the conclusion of Comprehensive Economic Cooperation Agreement with a greater flow of goods and services along with increased investment for people and businesses on both sides.
Source: Kuwait News Agency
