Commerce and industry minister Piyush Goyal discussed issues related to trade in goods, services, investment and mutually beneficial cooperation with his Australian counterpart during his visit to Melbourne on November 8, the government said.
He held bilateral discussions with Minister for Trade and Tourism of Australia Senator the Don Farrell and Minister for Skills and Training Andrew Giles.
“The constructive discussions focused on unlocking the full potential of the India–Australia Economic Partnership, including through an ambitious and balanced India–Australia Comprehensive Economic Cooperation Agreement (CECA),” the commerce and industry ministry said in a statement Saturday.
During the meeting, the ministers reviewed the progress made under the CECA negotiations and discussed pathways to elevate bilateral trade and economic partnerships. The discussions covered a wide range of areas, including trade in goods, services, investment and mutually beneficial cooperation.
In FY25, bilateral merchandise trade between India and Australia was $24.1 billion, with India’s exports registering a growth of 14% in FY24 and a further 8% in FY25.
“Both sides reaffirmed their commitment to work constructively towards the early conclusion of a balanced and mutually beneficial CECA, building on the foundation of the India–Australia Economic Cooperation and Trade Agreement (ECTA), which entered into force in December 2022,” it said.
Goyal also engaged with select business representatives from the Indian diaspora, accompanied by Farrell Giles.
“The interaction highlighted opportunities for stronger commercial linkages and underscored the community’s role in advancing bilateral economic ties,” the ministry added.
