Shri Piyush Goyal begins 5-day visit to Australia, days after inking India-Australia Economic Cooperation and Trade Agreement (ECTA)

During the visit, I will take the ECTA to people - Shri Goyal

To take ECTA forward, Shri Goyal to hold talks with his Australian counterpart, Mr. Dan Tehan MP, and Mr. Tony Abbott, Australian PM’s Special Trade Envoy

Shri Goyal to address students and Indian Diaspora to convey the benefits of the ECTA

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal left New Delhi on a 5-day visit to Australia today. His visit comes days after India and Australia signed the Economic Cooperation and Trade Agreement (IndAus ECTA) on Saturday, 2nd April.  During the visit, I will take the ECTA to people, Shri Goyal said, adding that interactions had been planned with Business leaders, Indian students, diaspora, etc.

During the visit Shri Goyal will hold wide-ranging discussions with his Australian counterpart, Mr. Dan Tehan MP, Minister for Trade, Tourism and Investment, on carrying forward the ECTA. ECTA is the first trade agreement of India with a developed country after more than a decade and provides for an institutional mechanism to improve trade between the two countries. Shri Goyal will also hold talks with Mr. Tony Abbott, Australian PM’s Special Trade Envoy this evening.

Shri Goyal will also be meeting Mr. Jason Wood, MP, Assistant Minister for Customs, Community Safety and Multicultural Affairs, Mr. Alex Hawke, Minister for Immigration and Multicultural Affairs, Mr. Roger Cook, MLA, Deputy Premier of Western Australia and Minister for State Development, Jobs and Trade, Tourism, Commerce and Science and Ms. Madeline King, Shadow Trade Minister.

During his packed schedule, Shri Goyal will visit the University of Melbourne and Australia India Institute tomorrow. He will address a Public conversation with Minister Dan Tehan and Mr Allan Myers, Chancellor, University of Melbourne, at the Melbourne Law School in The University of Melbourne.

Shri Goyal will also visit the landmark Melbourne Cricket Ground and address the Australia-India Chamber of Commerce and Austrade, along with Minister Dan Tehan, besides interacting with the Indian media. He will later visit the Shiva Vishnu Temple in Melbourne and attend a Community event with the Indian Diaspora.

On Thursday, 7th April, Shri Goyal and Minister Dan Tehan will address and interact with students at the University of New South Wales in Sydney and pay tributes at the statue of Mahatma Gandhi in the University campus. Shri Goyal will later address the Emerging Diaspora Business Leaders Reception hosted by India-Australia Business and Community Awards (IABCA). Later in the evening, Shri Goyal, accompanied by Minister Dan Tehan and Minister Alex Hawke, Minister for Immigration and Multicultural Affairs, will attend a Community event at the Swaminarayan Temple in Sydney. Before leaving Sydney on Friday, 8th April, Shri Goyal will also meet Mr. Alan Joyce, CEO & MD, Qantas Airways.

Shri Goyal will meet with the Australian Agricultural Producers and hold talks with Deputy Premier Roger Cook and Ms. Madeline King, Shadow Trade Minister in Perth. He will visit the Western Australia Cricket Ground (WACA) in Perth and attend a Tourism event in conjunction with Tourism Western Australia, besides holding a Press Interaction with the Indian Media Delegation. On Friday evening, Shri Goyal will address the Community Centre Indian Society of Western Australia (ISWA).

Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner. The ECTA is expected to almost double the bilateral trade from $ 27.5 bn (2021) to about $ 45 to $ 50 Billion in next 5 years. ECTA is expected to create new employment opportunities, raise living standards and enhance the overall welfare of the peoples of both the countries. Additional employment generation is expected to be 10 lakhs within the next 5 years.

Economic Cooperation and Trade Agreement promoted through ministerial visit to advance institutional ties and boost bilateral trade growth. The visit seeks to operationalise and promote the Economic Cooperation and Trade Agreement (ECTA) through ministerial consultations and stakeholder outreach to implement institutional cooperation, market access and trade facilitation measures. Meetings with Australian trade and immigration ministers, business leaders, agricultural producers, diaspora and academic forums are planned to encourage private-sector uptake. ECTA is described as India's first trade pact with a developed country in over a decade, intended to deepen bilateral trade and generate employment by translating institutional provisions into expanded trade and investment outcomes.