Tag: Piyush Goyal

Australia-India agree to revive talks for a free trade pact amidst the launch of Australian food, health and lifestyle brands through Amazon India

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Photo: PIB

By SAT News Desk

NEW DELHI-MUMBAI, 25-26 February: India and Australia have decided to restart the stalled negotiations on the bilateral Comprehensive Economic Cooperation Agreement (CECA), which means a free trade agreement (FTA).

Under an FTA, two or more trading partners significantly cut or remove all customs duties on the main goods traded between them. Norma is liberalized to increase trade in services and boost investments.

The two countries agreed to take forward the issue of harmonizing standards and regulatory barriers for products of interest to both sides, in parallel.

It was also agreed to work on market access issues to increase trade, work on mutual recognition of educational qualifications of the two countries and encourage more direct flights between Australia and India, says an Indian government media release.

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Photo: PIB

These decisions came during the 16th session of the Joint Ministerial Commission between the two countries held on 25th February here.

The Session was co-chaired by Mr. Piyush Goyal, India’s Minister of Railways and Commerce & Industry and Hon. Senator Simon Birmingham, Australia’s Minister for Trade, Tourism and Investment.

Both sides reflected on the important role the private sector plays in building the bilateral economic relationship. India welcomed the Australia-India Business Exchange program, including the delegation of over 100 Australian businesses accompanying Minister Birmingham. The business delegation explored opportunities in education, food and health and beauty, resources, and infrastructure.

India raised the issue of taxing of off-shore income of Indian firms through the use of India-Australia Double Tax Avoidance Agreement (DTAA) and sought early resolution of the issue. Both sides agreed to intensify discussions, says a PIB media release.

Aussie cuisine for India

The Australian Minister launched the Taste of Australia campaign which will run in one of India’s luxury supermarket chains, Foodhall, over the next two weeks.

“This campaign is about lifting the profile of Australian food products in India and highlighting their quality and safety to millions of Indian consumers,” Minister Birmingham said.

“There are enormous opportunities for Australian food and beverage brands to stand out from the crowd and that’s why campaigns like this one are so important in highlighting the quality, freshness and safety of Australian food products.

Over 20 Australian brands are on show and available for sale at Foodhall supermarkets across New Delhi and Mumbai in the coming weeks, as part of the Taste of Australia campaign.

The launch of the Taste of Australia campaign also coincides with the release of a new Austrade premium food and beverage guide to give Australian exporters further insights and advice on doing business in India.

Australian brands on Amazon India

An interesting segment of Australia’s Minister for Trade, Tourism and Investment Simon Birmingham’s India visit is that he launched the new online store in Mumbai, saying the Australian store on Amazon India would be a game-changer for Australian brands in India.

Launched the new online store in Mumbai, he said the Australian store on Amazon India would be a game-changer for Australian brands in India.

“Thousands of Australian food, health and lifestyle brands will now be available at the click of a button in the world’s fastest-growing consumer market, thanks to this partnership,” Minister Birmingham said.

(This report is based on media releases from the Indian and Australian governments)

Adani to invest in Australian Solar projects

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By Neeraj Nanda

Melbourne, 12 February: After the delayed Carmichael Coal mine project in Queensland, facing environmental and indigenous opposition, Indian mining giant Adani has announced plans to invest in Solar projects in Australia. The announcement came during the visit of Indian Energy Minister Piyush Goyal’s visit to attend the 3rd India-Australia Energy dialogue.

Fairfax media has quoted Minister Pyush Goyal as warning Indian investment in Australia could be deterred if obstacles to the giant Adani Enterprises coal project in the Galilee basin are not overcome.

Despite the warning Adani Australia in a move to balance environmental opposition to the Coal project announced plans for Solar investments in Queensland and South Australia.

In a statement, Adani Australia says the proposed investments in Solar generation “…would be in addition to, not in lieu of, the company’s existing and planned further investments in the mine at Carmichael, the North Galilee Basin Rail, the port at Abbot Point and the port’s expansion.

If and when these opportunities come to fruition, Adani will update the market on the value, scope and nature of these investments.”

“The company’s planned investments in Australia would leverage this expertise, as well as the company’s focus on photovoltaic manufacturing opportunities, which would provide valuable export and employment opportunities in India at the same time as Adani’s existing investments in Queensland provide substantial employment and export opportunities, the statement says.