Australia and India Plan More Trade Talks in Coming Weeks
Australia and India will meet for trade talks in the next few weeks, Trade Minister Don Farrell said Monday, as the government seeks to conclude another deal with New Delhi after an agreement with the European Union.
“We’re going to have another crack at India in the next few weeks,” Farrell said Monday in Canberra, citing benefits to Australian businesses from a 2022 agreement between the two nations. “We’re still talking with India about a fresh agreement,” he said, noting that trade with India has risen 17% since that deal.
“India represents great opportunities. They have the ambition that by 2030, 900 million Indians will be in what they define as the middle class,” Farrell said. “What do we know about people when their incomes rise? Well, they want better food and better wine. So here’s a wonderful opportunity.”
India also has “great ambitions” to reach a deal, Farrell said, adding that an agreement is not yet assured. Indian trade minister Piyush Goyal “is a very hard man, so I wouldn’t anticipate an easy set of negotiations.”
“With India, it’ll be step by step. We’re not going to get a big bang agreement,” Farrell said. “We’ll make progress. That’ll work for a while, then we go back and do some more.”
