Amaravati, Andhra Pradesh: The Indo-Australian trade relationship is experiencing significant growth thanks to the new Economic Cooperation and Trade Agreement (ECTA). Australian High Commissioner Philip Green announced a notable increase in Indian exports to Australia during a meeting with Andhra Pradesh Chief Minister N. Chandrababu Naidu.
“In the last five years, India’s global exports have risen by 37%, but exports to Australia have surged by 66%, nearly double the rate,” Mr. Green highlighted. Key sectors benefiting from this trade pact include apparel, iron and steel, and agriculture, with impressive growth rates of 20%, 25%, and 30% respectively in the last four months.
Mr. Green emphasized India’s indispensable role as a strategic partner. He praised the Indian diaspora’s contributions to Australia’s tech and service sectors, noting the growing community of over one million in Australia.
Australia is keen to collaborate on the development of Amaravati, drawing on its experience with Canberra, one of the world’s most beautiful capitals, originally developed from sheep farms. Areas of interest include education, agriculture, water management, and green energy.
Green Initiatives and Future Prospects
Australia is focused on exporting clean coal, critical minerals for green technologies, and solar panels to support India’s ambitious solar roof initiative. Mr. Green also reaffirmed Australia’s support for India’s permanent membership in the UN Security Council.
Commenting on global politics, Mr. Green condemned Russia’s invasion of Ukraine as a breach of international law and expressed Australia’s ongoing support for Ukraine. He also discussed India’s strategic importance in the Indo-Pacific region and advocated for direct shipping lines between Australia and India to strengthen economic ties.
The ECTA has paved the way for a prosperous trade relationship between India and Australia, promising mutual growth and stronger strategic ties. With ongoing initiatives and collaborations, both nations are set to benefit from this thriving partnership.
