India’s Minister of Commerce and Industry, Piyush Goyal, has met Australian Trade Minister Don Farrell and Skills and Training Minister Andrew Giles in Melbourne to advance negotiations on a major bilateral trade agreement.
Senator Farrell said he was pleased to welcome his “good friend and counterpart” alongside Giles, noting that Australia’s partnership with India — the world’s largest democracy — extends beyond diplomacy to shared Commonwealth ties, deepening economic and security links, and the strength of migrant communities that now call Australia home.
Goyal’s visit on Saturday centred on accelerating work on the proposed Comprehensive Economic Cooperation Agreement (CECA), described by both sides as an ambitious and balanced deal aimed at unlocking the full potential of the India–Australia Economic Partnership.
Reflecting on the meeting, Goyal said he had concluded his two-nation visit:
“Our constructive discussions focussed on unlocking the full potential of the India-Australia economic partnership, including through an ambitious and balanced Comprehensive Economic Cooperation Agreement.”
During the meeting, ministers reviewed progress under ongoing CECA negotiations and discussed next steps to elevate trade and investment. Talks spanned goods, services, investment flows, and broader areas of mutually beneficial cooperation.
Bilateral merchandise trade between India and Australia reached USD 24.1 billion in 2024–25, with India’s exports to Australia rising 14 per cent in 2023–24 and a further 8 per cent in the current financial year. Both sides reaffirmed their commitment to concluding a CECA “as early as possible”, building on the existing Economic Cooperation and Trade Agreement (ECTA), which came into force in December 2022.
Goyal also met select members of the Indian-Australian business community, joined by Farrell and Giles, to discuss opportunities to strengthen commercial ties. The ministers emphasised the role of diaspora entrepreneurs in advancing bilateral economic cooperation.
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