Both the countries on April 2 inked an economic cooperation and trade agreement (ECTA) to boost economic ties
Services exports to Australia will more than double to USD 5 billion in the next five years. This will be due to the recent trade pact signed between India and Australia, according to the Services Exports Promotion Council (SEPC). Both the countries on April 2 inked an economic cooperation and trade agreement (ECTA) to boost economic ties.
SEPC Chairman Sunil H Talati said that the sectors that will be benefit the most from the pact include telecommunications, computer, information, travel, research and development, professional and management consulting services.
“SEPC expects exports to reach USD 5 billion by 2027 from the current USD 1.9 billion,” Talati said. He also said that the council would be the nodal organisation for creating and promoting business opportunities for India’s services sector in Australia in the given framework of the pact. “SEPC will be organising a series of activities and outreach programmes on ECTA followed by sector specific business delegations to Australia”.
“Businesses in Australia have been urged to look towards India for services import. Awareness is being created about SEPC.”
— Karan Rathore, Vice Chairman, SEPC
It may be pointed out that the Union Commerce and Industry Minister Piyush Goyal led one of the largest trade delegations to Australia shortly after the signing of the pact. The delegation comprised industry representatives from most of the Export Promotion Councils and senior government officials.
Karan Rathore, Vice Chairman, SEPC who also represented the services sector and participated in the high-level business delegation said that SEPC would work to organise relevant activities followed by sector specific business delegations to Australia. “Chairman Talati, me and Director General Abhay Sinha have urged businesses in Australia to look towards India for services import. In every meeting they have created awareness about SEPC,” said Rathore.
*******************************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com