Piyush Goyal's Australia Visit to Boost Economic Ties
Union Commerce and Industry Minister Piyush Goyal is scheduled to visit Australia from September 23-25 to enhance bilateral economic ties and explore new investment opportunities. The visit is at the invitation of Australia's Minister of Trade and Tourism, Senator Don Farrell, and will involve interactions with top CEOs from both India and Australia.
One of the key events will be the 19th India-Australia Joint Ministerial Commission meeting, co-chaired by Goyal and Farrell on September 25 in Adelaide. The discussions will focus on elevating bilateral economic cooperation, with an emphasis on expanding trade and investment between the two nations. India-Australia bilateral trade in goods and services has already surpassed $48 billion and is projected to double to $100 billion in the next five years.
Goyal will also engage with industry leaders, including Australian pension fund representatives, to promote investment opportunities in India. Events organised by the Business Council of Australia, Centre for Australia-India Relations, India Australia Business Community Alliance, AsiaLink Business, and CREDAI will serve as platforms for these discussions, which aim to leverage the complementary strengths of both economies.
The focus of the discussions will be on fostering synergies, particularly through initiatives like 'Make in India' and Australia's 'Future Made in Australia', which are designed to create jobs and drive economic growth in both countries.
In addition to business engagements, Goyal will meet members of the Indian community in Sydney, including Indian-origin chartered accountants and emerging leaders from the diaspora. These interactions aim to strengthen the cultural and economic ties between India and Australia.
According to the Ministry of Commerce and Industry, the visit is timely, as both countries have intensified cooperation through bilateral engagements and global forums like the G20 and the Quad. The trip is expected to provide further momentum to the strong and growing trade relationship between India and Australia, which has seen a significant boost following the finalisation of the Economic Cooperation and Trade Agreement (ECTA).