Friday, May 20, 2022

Piyush Goyal: India and Aus should look at USD 100 bln bilateral trade by 2030

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Industry Minister Piyush Goyal: India & Aus bilateral trade: Commerce and Industry Minister Piyush Goyal on Wednesday said that India and Australia should look at boosting the bilateral trade to USD 100 billion by 2030 from the current level of around USD 27.5 billion.

Goyal, who is in Australia on a three-day visit, said that both the countries are already at an advanced stage of entering into an agreement for greater collaboration in the education sector.

On April 2, India and Australia signed the Economic Cooperation and Trade Agreement (IndAus ECTA) under which both the countries are providing duty free access to a huge number of goods and relaxing norms to promote trade in services.

Industry Minister Piyush Goyal

Both the countries are also looking at things like providing dual degrees and signing mutual recognition agreements to promote services trade.

Goyal said that areas where both the countries can increase collaboration include education, research, startups and agri tech.

The minister also sought investments from Australia in areas like infrastructure.on in 2021.

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