<cite id="zp1zn"><delect id="zp1zn"></delect></cite>

    <font id="zp1zn"></font>

          SME Times is powered by   
          Search News
          Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
          Last updated: 12 Mar, 2023  

          India.Australia.9.Thmb.jpg India-Australia trade potential

             Top Stories
          » 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
          » 'India ranks 3rd in global startup ecosystem & number of unicorns'
          » Tripura exported over 9K tonnes of pineapples in 2 years
          » CPI inflation eases to 6.71% in July, IIP falls to 12.3%
          » Rupee depreciates 12 paise to close at 79.64 against US dollar
          Bikky Khosla | 12 Mar, 2023

          India and Australian are now exploring ways to expand trade cooperation. The two countries implemented an economic cooperation and trade agreement (ECTA) last year and both sides are now looking for expanding the cooperation by signing a comprehensive economic cooperation agreement (CECA). It is expected that the ambitious trade pact will be finalised by this year and will usher a new era in India-Australia trade.

          At present, India imports $17 billion worth of goods from Australia – India’s 17th largest trading partner - but here it is noteworthy that this import basket comprise mainly raw materials and intermediate goods (96%), primarily coal (96%) out of which 71.4% is coking coal. In contrast, we export finished products (consumer goods) to Australia. The ECTA agreement has proved to be a win-win situation, and with a wider trade pact not far off, it seems India-Australia trade will reach new heights in coming days.

          In a discussion between the Indian trade minister and his Australian counterpart, both of them expressed “dissatisfaction” over the $30-billion trade between the two countries at present and also vented their unhappiness with the target of $45-50 billion bilateral trade to be achieved in the next five years. They now set an ambitious target of $100-billion trade by 2030. There are several areas of mutual interest, and it is expected that a CECA will help reach this new goal.

          Meanwhile, according to reports, India-US bilateral trade has nearly doubled since 2014. It now stands at $191 billion in 2022. During the India-US Commercial Dialogue meeting last week, the two sides discussed ways and means of enhancing their commercial collaboration and exploring untapped opportunities across multiple sectors. Importantly, they also discussed about creating an enabling investment environment for MSMEs and startups.

          I invite your opinions.

          Print the Page
          Add to Favorite
          Share this on :

          Please comment on this story:
          Subject :
          (Maximum 1500 characters)  Characters left 1500
          Your name:

            Customs Exchange Rates
          Currency Import Export
          US Dollar
          UK Pound
          Japanese Yen 58.85 56.85
          As on 13 Aug, 2022
            Daily Poll
          COVID-19 has directly affected your business
           Can't say
            Commented Stories
          » GIC Re's revenue from obligatory cession threatened(1)
          About Us  |   Advertise with Us  
            Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
          Follow Us : Facebook Twitter