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Trade pact with India will unlock potential for future investments: Aus PM
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IANS | 09 Mar, 2023
Australian Prime Minister Anthony Albanese said on Thursday that the
Economic Cooperation and Trade Agreement (ECTA) signed between India and
Australia is a transformative agreement, which will unlock the next
level of potential in trade and investment.
Addressing
the India-Australia CEO forum here, Albanese said the business
delegation accompanying him is one of the most serious and high-profile
delegations to visit India from Australian shores.
He also said
that it is a turning point in accelerating economic co-operation and
mutual benefits in the relationship between the two countries.
Commerce
Minister Piyush Goyal, who was present at the event, said that the
current goal of doubling bilateral trade must be reset by the industries
and CEOs present, as there is great potential to increase trade
manifold between the two nations.
He reiterated the growth potential of bilateral trade and investments between India and Australia.
Goyal,
while recalling his previous visit to Australia in April last year,
recounted his interaction with the CEO of Cochlear, Australian hearing
implant manufacturers. After the interaction, he had reassured Goyal
that their current market share in India was only a minuscule of the
potential for the business, given India's population, rapid growth in
middle class and the growing demands of the overall economy for a better
lifestyle.
The forum was organised by the Department for
Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce,
along with the Confederation of Indian Industry (CII) in order to
leverage the ever-growing trade and investment opportunities between the
two countries.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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