India and Australia to work closely for collaborative projects.
New Delhi:
Australia is an important trading partner of India in Oceania region with merchandise trade between India and Australia reaching around 24 billion USD in 2023-24, signaling significant potential for further growth.
The Joint Committee Meeting serves as a vital platform for both nations to further strengthening trade ties and exploring new opportunities for bilateral economic cooperation in areas such as trade facilitation, investment promotion, as well as co-operation in other areas including support for technology.
According to official sources, an Indian delegation led by Commerce Secretary Sunil Barthwal had a very constructive and productive discussions on various trade and prospective investment related issues with the Australian delegation led by Depute Secretary George Mina from the Department of Foreign Affairs and Trade (DFAT) in Canberra as well as the businesses in Sydney and Melbourne for deepening the existing economic relations between the two democracies, taking advantage of the trade complementarities and expertise and unexplored potential both economies have.