Australia to target growing Indian consumer market in trade expansion

Australia will continue to work closely with India in support of its G20 presidency.

Mr Tim Ayres, the Assistant Minister for Trade and Assistant Minister for Manufacturing, is in India to attend the G20 Trade and Investment Ministers’ Meeting in Jaipur as well as the B20 Business Summit in New Delhi.

In a statement, the Mr Ayres said:

“I look forward to meeting with my G20 counterparts to discuss how we can boost international trade and investment to help create more jobs, and address slowing global growth.”

He added:

“I will advocate for Australia’s trade interests, including to reinforce G20 support for a strong rules-based multilateral trading system with the World Trade Organization at its core.”

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Mr Ayres is confident to use this G20 and B20 visit to discuss progress on the Free Trade Agreement with India and the Australia-India Comprehensive Economic Cooperation Agreement that both countries are looking to conclude this year.

Image: G20 delegates & business leaders at the B20 Summit India 2023 in New Delhi (Source: Twitter – Piyush Goyal)

Mr Ayres observed:

“Conclusion of an ambitious agreement will enable Australia and India to realise the full potential of our bilateral economic partnership.”

Mr Ayres also met with Mr Piyush Goyal, India’s Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, to deliberate on expanding collaborations in key sectors to maximize the benefits of the India-Australia ECTA for mutual growth.

Mr Ayres has assured that Australia will continue to work closely with India in support of its G20 presidency.

The G20 brings together the world’s major economies representing 85 per cent of global GDP and 75 per cent of international trade.

The B20 will be used to promote Australia’s incredible exporters, products, and services in a growing market of 1.4 billion consumers.