The Australia India Business Council (AIBC) and Business NSW recently organised an event to discuss business opportunities in India for Australian businesses following the passage of the India Australia Economic Cooperation and Trade Agreement (AI-ECTA) in the Australian Federal Parliament.
The trade agreement will come into effect from 29th December 2022 after it was passed in both houses of the Australian Parliament and the Indian Government completing the respective domestic requirements.
The event included several eminent guests inluding DFAT’s Chief Negotiator for ECTA and CECA (Comprehensive Economic Cooperation Agreement), Frances Lisson, who spoke about the significance of the date on which the agreement comes into force (29th Decemebr 2022). She said that because the agreement is coming into force this year it will effectively mean that Australia gets an extra year of tariff cuts!
AIBC NSW President and Associate National Chair, Irfan Malik, who was hosting the event, used a cricket analogy to make his point while speaking to The Australia Today’s Editor, Pallavi Jain, at the event.
Indian Consul General in Sydney, Manish Gupta, also emphasised on the importance of this agreement.
Speaking at the event, Federal Member for Parramatta and Chair, Parliamentary Friends of India, Andrew Charlton, said that Parramatta was the fastest growing CBD in Australia. Parramatta is a suburb in Greater Western Sydney and has a significant Indian-origin population.
Eminent guests at the event also included AIBC National Chair Jodi McKay, Deputy Mayor of Parramatta and ALP’s candidate for Winston Hills for the upcoming NSW elections , Sameer Pandey and Executive Director, Business Western Sydney, David Borger.