PEAK INDIAN INDUSTRY BODIES SIGN MoU WITH AIBC TO BOOST BILATERAL TRADE
Aiming to promote and facilitate bilateral trade and business opportunities in accordance with ongoing economic policies, such as Comprehensive Strategic Partnership (CSP) and the Australia-India Economic Cooperation Trade Agreement (AI-ECTA), two Peak Indian industry bodies, the National Federation of Cooperative Sugar Factories Limited (NFCSF) and the Trade Promotion Council of India (TPCI), have signed a Memorandum of Understanding (MoU) with the Australia India Business Council Limited (AIBC).
NFCSF was established to build a strong and vibrant cooperative sugar sector in India. All the Cooperative Sugar Factories and State Cooperative Sugar Federations across the countries are its members. They work towards facilitating the growth of the Indian Sugar Industry sectors with global investment and trade opportunities. Their MoU with AIBC will enable identification of opportunities between businesses in Australian and Indian private sectors in bilateral sugar trade, including Small to Medium Enterprises, commercialisation of technologies and facilitate any futuristic investments in the sugar industry.
TPCI is an apex trade and investment promotion organisation recognised and supported by the Department of Commerce, Government of India. They work towards facilitating the growth of the Indian industry sectors with global investment and trade opportunities. Their MoU with AIBC will enhance promotion of business cooperation through the execution of joint activities and exchange experiences to strengthen institutional knowledge in bilateral trade and support visiting trade delegations mutually.
NFCSF and TPCI signed the MoUs with AIBC in the presence of Honorable Manish Gupta – Consul General of India in Sydney and members of their trade delegation visiting Australia from 26 June to 2 July 2022.
AIBC has recently established the Australia India Business Enterprise (AIBE) as its commercial arm to facilitate bilateral business to business engagements.
Congratulating both NFCSF and TPCI, Mr Con Livissianis – Chair of AIBE said their partnership with AIBC will result in significant commercial outcomes for business both in Australia and in India.
Approved by: Jim Varghese AM – National Chair – AIBC
Prepared by: Vish Viswanathan – Make In India Chair – AIBC
Released by: Media Team – AIBC
Dated: 4th July 2022