India-Australia

·         On July 14, 2008 India and Australia agreed to explore possibilities for economic engagement between the two countries - Australia is 10th largest merchandise trading partner and 9th largest merchandise import market and informed that the bilateral trade in 11 months of the current year have reached a level of US $ 2 billion.

·         Australia is the 18th largest source of FDI in India.

Mission IAS’2009

·         The top sectors attracting investment in India from Australia has been in the areas of:

o        Metallurgical Industries (25.56%),

o        Service Sector (financial &non-financial) (14.62%),

o        Telecommunication (10.48%),

o        Consultancy Services (8.77%) &

o        Automobile Industry (7.10%). (From January 2000 to March 2008.)

·         Western Australia plays an important role in our bilateral trade, accounting nearly half of the total trade.

• To further boost the bilateral cooperation between both countries, a Joint Study Group to examine the feasibility of a Free Trade Agreement has been set up and Government is expecting the report by the end of 2008. Tthere are considerable opportunities for both countries to explore their business and trade potential.