New Delhi: India and Australia must work towards enhancing the resilience of supply chains and greater engagement in the Indo-Pacific region, said Piyush Goyal, Minister of Commerce & Industry, on Monday.
“Australia-India Business Champions Group’s role has become extremely important as it provides a platform for greater engagement between the policymakers of India and Australia," he said.
Goyal said the two countries should focus on charting a course for ensuring effective usage of the huge entrepreneurial talent, developing a domestic market with a thriving private sector as well as skilled labour.
"The key goal must be to strengthen international supply chains, and fully capitalize on the currently favourable geopolitical phenomenon,” Goyal said while addressing the Inaugural Meeting of the Australia India Business Champions today.
The Minister who is co-chairing the Australia-India Business Champions Group stated that the forum will play a pivotal role in supporting the agenda of the Australia-India CEO Forum by highlighting the vibrant role being played by the business sector of both countries.
He added that while working as trusted partners, India and Australia must work towards enhancing the resilience of supply chains and greater engagement in the Indo- Pacific region.
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Goyal commended that the bilateral relations have grown stronger after COVID-19 as both the governments worked towards keeping the supply chains functional and the working style of services were re-engineered.
The Minister mentioned that a plethora of reform measures such as the operationalisation of the National Single Window System are being undertaken for creating a conducive environment for the industry. He mentioned that the Business Champions of this group will play a major role in enhancing, deepening, and leveraging on the strong India-Australia ties.
“The Australia-India Business Champions Group’s key aim is to liberalise and deepen bilateral trade between both the nations and pave the way for collaborative economic growth,” said Dan Tehan MP, Minister of Trade, Tourism and Investment, Australia.
He further stated that India has become an important and relevant partner for Australia’s economic strategy, especially in the areas of trade and investments.
"The India-Australia relationship continues to grow stronger underpinned by people-to-people ties, a shared past and other multifaceted commonality including cultural and social factors, presenting further prospects for the partnership," he added.
