India Trade & Export Seminar

India is the world’s second most populous nation and currently the sixth largest economy with a growth rate of 7.5%, exceeding China’s 6.5%.  As one of the world’s fastest-growing economies, this growth presents a broad range of international business opportunities for bilateral trade with Australia. 
 
India is a country in transition with a middle class of approximately 300 million that is driving demand for premium products and services.  The middle class households is likely to more than double to approximately 550 million individuals by 2025, while the GDP growth rate is projected to continue with India drawing level with the USA by 2050.
 
India is poised to maintain its position as a key global renewables market, with concerted government programs driving growth across 20 sectors (e.g. ‘Made in India Program’).  Progressive policies of the Indian government include national tax reform to simply the process of movement of goods at local and international levels.
 
The Australia India two-way trade in goods and services has grown in value from $6.8 billion in FY2003-04 to $14.8 billion in FY2013-14, with an estimated potential of exceeding $100 billion, hence matching the Australia China trade.
 
The agriculture, energy, manufacturing, mining, education and services sectors and are key opportunity sectors for Australia.
 
Australian businesses can take the first mover advantage of the following FTA’s that are not available to either the European Union or USA.

1. Free Trade Agreement negotiations to that was launched in May 2011and are nearing conclusion, and
2. Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between the ten member states of the Association of Southeast Asian Nations (ASEAN)