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Australia and India Strengthen Trade Ties

Trade News Snippet

Australia moves forward with its’ foreign trade policy of creating new trade pacts

Australia on show at Vibrant Gujarat 2015

11 January 2015
Minister for Trade and Investment Andrew Robb will today launch the Australia Pavilion at Vibrant Gujarat 2015 – a leading trade and investment event in India which attracts up to 50,000 delegates from around the globe.

The investor summit, which began when Prime Minister Modi was Chief Minister of Gujarat, coincides with the start of Australian Business Week in India (ABWI). Mr Robb is head of Australia’s largest-ever trade mission of 400 business leaders to India.

“India is at an exciting time in its history. We are here to unlock the vast untapped potential of our trade and investment relationship,” Mr Robb said.

“As a partner country for Vibrant Gujarat 2015, we will showcase the best of Australian tourism and education to a potential audience of over one million people and demonstrate that Australia is open for business.

“Already we have seen a significant MOU signed between Australia’s Woodside and the Adani Group on LNG supply – a direct result of the high-level trade mission that accompanied Prime Minister Abbott in September, Wollongong University has signed agreements on skills development in the mining sector, while Melbourne University is partnering with India’s top business school, IIMA.”

Mr Robb said Prime Minister Modi’s leadership of Gujarat had shown how a progressive reform agenda could transform a state.

“Gujarat is a global business hub and one of India’s largest industrialised states, accounting for over 26 per cent of India’s foreign direct investment,” he said.

“A number of Australian companies are already doing business in Gujarat. We want to see this grow and diversify. Our visit here allows Australian companies to see the dynamic investment opportunities first-hand.”

India is Australia’s fifth largest export market and two-way trade is about A$15 billion.

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