Indian Commerce and Industry Minister Piyush Goyal announced the move while speaking at a press briefing soon after the Australian Parliament cleared a Free Trade Agreement (FTA) with India on November 22
“Visas for Indian chefs and yoga instructors, along with assurance that every child who goes from India to Australia will be given an opportunity for employment there. Stem graduate, doctoral will get four year of work visa in Australia. Postgraduate will get three years of work visa.”
Those were words from Indian Commerce and Industry minister Piyush Goyal. He was speaking at a press briefing soon after the Australian Parliament cleared a Free Trade Agreement (FTA) with India on November 22. He also said that the FTA would open more avenues for Indians in Australia, reported businesstoday.in.
Goyal also highlighted that the initial size of bilateral trade between India-Australia, due to the FTA, could go up to around $45-50 billion in the next five to six years. He added that sectors right from textile, gems and jewellery, to pharma, as well as IT will benefit from the FTA with Australia.
“Delighted that India-Australia Economic Cooperation & Trade Agreement has been passed by Australian Parliament. A result of our deep friendship, it sets the stage for us to unleash the full potential of our trade ties and spur massive economic growth.”
— Piyush Goyal, Indian Commerce and Industry Minister
“It reflects the strong bond PM Narendra Modi has built with the Government in Australia. It is a big recognition of India’s growing stature and capabilities that India’s businesses provide to the world both in goods and services,” he added.
The FTA, which has the official name ‘India-Australia Economic Cooperation and Trade Agreement” (AI-ECTA), needed ratification by the Australian Parliament before its implementation. The agreement was signed between the two countries in April this year.
Earlier in the day, Minister Goyal had expressed his delight about the FTA. “Delighted that India-Australia Economic Cooperation & Trade Agreement has been passed by Australian Parliament. A result of our deep friendship, it sets the stage for us to unleash the full potential of our trade ties and spur massive economic growth,” the minister had said on Twitter.
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