Key commodities exported to Australia are plain gold jewellery, studded jewellery, and cut and polished diamonds. The main commodities imported from Australia are precious metals -- gold and silver bars.
This announcement comes a week after Australian Prime Minister Anthony Albanese said that country's Free Trade Agreement (FTA) with India has passed through its Parliament.
Australia is an important strategic partner of India and both democracies are part of the four-nation QUAD, Trilateral Supply Chain Initiative and the Indo-Pacific Economic Forum (IPEF), according to a Commerce Ministry statement.
While addressing the Joint Press conference, Union Minister said, "We've agreed to pursue Free Trade Agreement between India and Gulf Cooperation Council (GCC) and conclude it at the earliest. GCC is already India's largest trading partner. GCC countries contribute almost 35 per cent of I
The Confederation of Indian Alcoholic Beverage Companies welcomed the ratification of the India-Australia FTA by the Australian Parliament and said this would take the trade ties between the two nations to newer heights.
The deal which was signed on April 2, 2022, is now ready for ratification for its early implementation. The Agreement will enter into force shortly, on a mutually convenient date once both sides have completed their domestic processes.
FICCI said achieving USD 100 billion targets of bilateral trade and investment is within the reach and it is the responsibility of businesses from both sides to achieve it by 2030.
After the announcement of the passing of the Australia-India Economic Cooperation and Trade Agreement from both houses, Australian Prime Minister Anthony Albanese said that the new trade agreements with India and the UK will strengthen the existing trade and economic relationships.
"It is a landmark moment for Australia and India, would like to congratulate the PMs of India and Australia for achieving this significant milestone today. These are 2 democracies with shared interests on the world stage," Goyal said.
This comes a few days after Albanese said that he will visit India in March next year. He announced this on the sidelines of the 17th edition of the G20 summit.
In the meeting held on the sidelines of the G20 summit, Rishi Sunak passed on his thanks to Prime Minister Modi "for the overwhelming response of the Indian people to his appointment as Prime Minister".
New Delhi [India], October 14 (ANI): There is interest in India and the UK to see if a Free Trade Agreement (FTA) can be reached at an early date but such matters are best left to the negotiators, MEA said on Friday and noted that there was the general goal of getting the deal done by Diw