The good news is that in spite of the Coronavirus pandemic, the Agribusiness in Australia and the Farm sector in India are still growing which will have positive impact on the economies of both countries. As per the recent report from NITI Aayog, a Government of India think tank enterprise, the farm sector is poised to grow at least 3% in 2020-21, which will aid overall growth in India.
“It is a right time NOW than before for Australian farmers to consider serious participation in the Indian Agriculture market” said Mr. Jim Varghese, National Chair of Australia India Business Council (AIBC). “ I hope both the Australian Government and the Indian Government use this timing opportunity will resolve any outstanding trade tariff issues on certain agricultural commodities sooner, so that the bilateral trade can grow faster” Mr. Varghese said adding “ AIBC is happy to assist or facilitate any business to business negotiations in the Agriculture sector”
To this effect, AIBC has established late last year, a dedicated Agriculture Industry Chapter.
Mr. Con Livissianis, the AIBC Agriculture Industry Chapter National Chair said there are huge opportunities for Australia and India in food processing and water harvesting. “AIBC will be organising focussed business to business discussion forums involving the Australian agribusinesses and their counterpart organisations in India to identify immediate bilateral trade opportunities”
Federal Minister for Trade, Tourism and Investment Senator Birmingham said that no single market offers more growth opportunity for Australian business than India out to 2035, with two-way trade and investment flow doubling over the past five years. India is the fastest-growing large economy in the world and among Australia’s top-tier trading partners, with two-way trade worth $30 billion in 2019.
As stated in the India Economic Strategy by Federal Government, India can provide a new source of growth for Australia’s agribusiness sector. Growth potential for Australian exports remains in commodities that India needs such as pulses, grains, horticulture, oilseeds. Opportunities also exist for value-added products sought by the growing middle class (wine, processed food). The annual food demand in India is expected to increase up to 400 million tonnes per year by 2025.
AIBC will work with Australian and Indian Industry to provide platforms to promote agricultural services, consulting and technologies.
The AIBC is a not-for-profit organization facilitating and linking businesses, exporters and investors in Australia and India.
Mr Jim Varghese AM, National Chair, Australia India Business Council Ltd.
E: firstname.lastname@example.org M: +61 474 739 479
Mr. Con Livissianis, AIBC Agriculture Chapter National Chair
E: email@example.com M: +61 419 418 898