By : Partha Roy, Kolkata
India Australia economic cooperation scaling new heights with the signing of the India Australia Economic Cooperation and Trade Agreement ( IndAusECTA ) on 2nd April 2022 .
Consul General of Australia in Kolkata, Ms. Rowan Ainsworth addressed a hybrid session on “Future of India Australia Economic Relationship ” organized by Calcutta Chamber of Commerce ( Estd.: 1830) and Indian Chamber of International Business on 6th June 2022 in Kolkata.
Ms. Rowan Ainsworth emphasized that new IndAusECTA will be taking multi- dimensional economic cooperation between India and Australia to new heights and will create more growth opportunities for Australian businesses in India over the coming decades .
Australia has specific “India Economic Strategy to 2035 ” to promote Australian business interest in India.
Australia plans to make India their 3rd largest outward investment destination in Asia by 2035.
Australian government has announced over AUD 280 million ( INR 1500 crore ) of new initiative since November 2021 to build tie across the breadth of India Australia relationship.
IndAusECTA aims to double the trade .
Under IndAusECTA , zero duty on 96.4% of Indian goods exports to Australia including textile and apparels, leather and foot wears ,furniture ,gems and jewellery machinery.
Australian exports to India thermal coal, alumina, metallic ores, lithium, cobalt , minerals, mining machineries , wines , many other products will be cheaper with tariffs eliminated .
To boost trade and economic cooperation, Australia plans to start a new Consulate General in Bengaluru ,Australia India Infrastructure Forum, Business Champion Secretariat , Global Mining Challenge Program -India and many others initiatives.
To promote and strengthen people to people link, Australia plans to start Maitri Scholars program , Maitri Grants and Fellowship program , Establishment of Taskforce on Education Qualification recognition , and many other initiatives.
Under IndAusECTA, movement of goods and people between India and Australia will increase many fold and will strengthen Indian Australian cooperation not only amongst both nations but will promote cooperation with other nations in the region.
Australia considers Indian Diaspora in Australia as their national asset .
Beyond trade and investment, Australia India defence cooperation will be strengthened. Strengthening of defence cooperation between India Australia will facilitate to meet upcoming challenges in Indo- Pacific oceans region.
As Consul General of Australia in Kolkata ,Ms. Rowan Ainsworth is facilitating Australia’s trade ,commerce and investment in West Bengal , Odisha, Chhattisgarh, Jharkhand, Bihar, Sikkim, Tripura, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Arunachal Pradesh.
“In a few days to disturb the peace of Kashmir, the terrorists had done the work of spoiling the atmosphere of the valley by killing innocent people there. After which the Home Minister convened a high-level meeting in Delhi and instructed to make a fresh strategy and surround the terrorists,” added sources.
