GG News Bureau
Adelaide, 25th Sept. Union Minister for Commerce and Industry, Piyush Goyal, announced the opening of a trade promotion office in Sydney, Australia, during a joint press conference in Adelaide with Australia’s Minister for Trade and Tourism, Don Farrell.
The office will include representatives from Invest India, NICDC, ECGC, and the private sector, facilitated by the Confederation of Indian Industry (CII). This office aims to enhance trade, investment, tourism, and technology ties between the two nations, serving as a bridge for businesses and investors.
Marking the 10th anniversary of the ‘Make in India’ initiative, Goyal emphasized its success in driving India’s manufacturing sector by creating a business-friendly environment. He highlighted the initiative’s role in promoting infrastructure development, easing compliance, attracting foreign direct investment (FDI), and nurturing the startup ecosystem.
Goyal also pointed out the synergy between India’s ‘Make in India’ program and Australia’s ‘Make in Australia’ initiative. The collaboration is expected to foster exchange of technologies, skill development, and business opportunities. He emphasized the potential for joint efforts in education, critical minerals, tourism, and sustainability.
The Minister’s visit to Australia is significant, with the participation of both CII and FICCI leadership, showcasing the growing importance of India-Australia relations. Shri Goyal underscored the unprecedented closeness between the two nations, citing nine high-level meetings since May 2022.
Additionally, India and Australia are working towards enhancing the Economic Cooperation and Trade Agreement (ECTA) by advancing it into a Comprehensive Economic Cooperation Agreement (CECA). The ECTA has already led to improved market access and a substantial increase in bilateral merchandise trade.
Goyal acknowledged Australia’s pivotal role in India’s economic journey, especially in trade, technology, and sustainability.
India’s “4 Ds” — democracy, demographic dividend, demand, and decisive leadership under Prime Minister Narendra Modi — offer a compelling advantage for further reforms and transformation, Minister Goyal added.
The post India to Have Trade Promotion Office in Sydney: Piyush Goyal appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates.
