Last Updated:
Australia’s business community said the two countries are working closely in tourism, education, and several other sectors, with private partnerships also coming in
Most CEOs, both in Australia and India, believe the current environment has significantly increased the scope to expand bilateral trade between the countries.
At a time when the world is talking about US tariffs on India and their impact on the global economy, many believe the move could create new opportunities for India and expand the country’s trade prospects with other nations.
News18 spoke exclusively to Jodi McKey, director of the Australia-India CEO Forum, about the “tariff war” and India’s prospects under its shadow. The Australia-India CEO Forum is a premier high-level business platform between the two countries, accessing the experience and expertise of leading CEOs to grow the economic relationship.
Recommended Stories
Edited Excerpts:
What is this tariff war?
The situation actually opens up huge opportunities for both Australia and India. India’s commerce minister Piyush Goyal and our trade minister are working closely on an economic cooperation programme. We already have an Economic Cooperation and Trade Agreement (ECTA) with India, and we are building on it. There may be some volatility, but our focus is firmly on India. The forum itself was initiated under the leadership of Prime Minister Narendra Modi and our prime minister.
Does the Indian diaspora play a role between the countries?
The Indian diaspora here serves as a living bridge between the two countries. We plan to work together across multiple areas. We also have a help desk, advisory council, and other mechanisms in place to facilitate collaboration. India is truly emerging as a superpower.
What lies ahead for both India and Australia?
With the strong friendship between India and Australia, we now want to elevate it into a high-level economic partnership. India is a huge market, and the future looks very positive. We are working closely in tourism, education, and several other sectors, with private partnerships also coming in.
Echoing the sentiment, Stephen Mahoney, General Manager-Policy, Product and Engagement at Destination New South Wales, told News18: “This is not a threat, but rather an opportunity.” Destination NSW is the lead agency, champion and voice for the visitor economy within the New South Wales government.
Most CEOs, both in Australia and India, believe the current environment has significantly increased the scope to expand bilateral trade between the countries. Given the current geo-political situation, industry leaders say the Australian business community wants more business with India and a stronger bilateral bond.
About the Author
Kamalika Sengupta is the Editor (East) at CNN-News18 / News18.com, focusing on politics, defence, and women’s issues. She is a seasoned multimedia journalist with over 20 years of experience reporting from East…Read More
Kamalika Sengupta is the Editor (East) at CNN-News18 / News18.com, focusing on politics, defence, and women’s issues. She is a seasoned multimedia journalist with over 20 years of experience reporting from East… Read More
Loading comments…
Read More
