Near Zero-Duty Access Under Indiaaustralia ECTA To Significantly Boost Export Prospects: AIAI President

(MENAFN- KNN India) Mumbai, Feb 19 (KNN) World Trade Center Mumbai, in association with the All India Association of Industries (AIAI), hosted a business delegation from the Australia India Business Council (AIBC) on Wednesday.

The discussion focused on expanding bilateral trade, investment collaboration and partnerships in sectors such as critical minerals, green energy and advanced technologies.

The meeting also saw the signing of a Memorandum of Understanding (MoU) between both parties to strengthen trade and investment cooperation.

Focus on SMEs and Emerging Sectors

Deepak Raj Gupta OAM, National Chair, AIBC, said,“Our focus remains strongly on supporting small and medium-sized enterprises, which are the backbone of both economies. Today's delegation of 20 members, representing sectors including education, artificial intelligence, law, sports, logistics, technology, and finance reflecting the wide range of opportunities emerging in the India–Australia bilateral corridor.”

Gupta added,“We are focused on collaboration in critical minerals, education, AI and emerging technologies, advanced manufacturing, sports and skill-bridging initiatives and human capital development. Strengthening technology partnerships alongside investing in people-to-people capabilities will be essential in driving sustainable growth between Australia and India.”

Trade Potential and Strategic Cooperation

Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, AIAI, said that with bilateral trade crossing USD 50 billion, there is significant opportunity to reach USD 100 billion over the next five years.

“The MoU signed between World Trade Center Mumbai and the AIBC will further strengthen bilateral trade and investment cooperation, creating new opportunities for businesses in both countries,” he added.

He noted that the India–Australia Economic Cooperation and Trade Agreement (ECTA), offering near zero-duty access on most traded goods, has opened significant opportunities for Indian exports.

Dr. Kalantri said,“There is considerable scope for cooperation in sectors such as the blue economy, maritime services, mining and critical minerals, particularly lithium as well as education, hydrogen, and green energy.”

(KNN Bureau)

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