India–Australia trade ties spotlight tech & minerals

A high-level webinar, jointly organized by MVIRDC WTC Mumbai, the Australia India Business Council (AIBC), and the All India Association of Industries (AIAI), brought together senior government representatives and industry leaders from India and Australia to discuss expanding trade opportunities, sectoral collaborations, and evolving policies, including the India–Australia Economic Cooperation and Trade Agreement.

The dialogue explored growth avenues in infrastructure, technology, education, renewable energy, and critical minerals.

Mr. Michael Carter, Head of International Trade Services at the Chamber of Commerce and Industry of Western Australia, referred to Australia’s India Economic Strategy to 2035, outlining opportunities in education, agribusiness, clean energy, healthcare, financial services, and innovation. He emphasized people-to-people ties, citing over 100,000 Indian students in Australia, and highlighted India’s potential as a global food supplier and a leader in AI, fintech, and quantum computing.

Mr. Abhinav Bhatia, Queensland Senior Trade and Investment Commissioner, noted that India was Queensland’s fourth-largest export market in 2024, accounting for nearly 60% of Australia’s total exports to India worth $14.4 billion. He emphasized collaboration in digital infrastructure, critical minerals (lithium, cobalt, vanadium), affordable housing, and sports infrastructure, linking opportunities to the Brisbane 2032 Olympics and India’s potential interest in hosting the 2036 Olympics.

Dr. Vijay Kalantri, Chairman of MVIRDC WTC Mumbai and President of AIAI, connected the discussion to India’s growth trajectory, aiming to become a $5 trillion economy by 2027–28 and a $32 trillion economy by 2047, under initiatives like Make in India and Gati Shakti. He projected that with focused investment in infrastructure, mining, IT, and re-export hubs, India–Australia trade could reach $100 billion in the near future. Addressing challenges, he remarked: “When one door closes, three others open. India is actively creating new pathways, and Australia is a key partner in this journey.”

In the picture: Panellists discussing India-Australia Bilateral Trade Opportunities during the webinar.

Mr. Deepak-Raj Gupta OAM, National Chair of AIBC, highlighted bilateral trade in goods and services valued at over $53 billion, pointing to initiatives like the Accessing New Markets Initiative (ANMI) – a $50 million AUD program to support Australian exporters in expanding into Indian and South Asian markets. He reinforced the immense complementary strengths and shared regional vision driving bilateral trade.

Ms. Priya Pansare, Director of Trade & Investment Promotion at WTC Mumbai, underscored the importance of manufacturing, technology, and infrastructure in India’s growth vision. She announced the upcoming Global Economic Summit at WTC Mumbai, which will convene global business leaders and policymakers to strengthen strategic partnerships.

Moderated by Poornima Menon, AIBC NSW Vice President, the session highlighted key issues such as regulatory awareness, logistics, cultural understanding, compliance, and streamlined regulations, while emphasizing deeper engagement between businesses on both sides.

The session concluded with consensus that the India–Australia trade corridor is entering a decade of accelerated growth, offering significant opportunities for businesses, investors, and innovators.