World Trade Center Mumbai organised a business networking session for an in-bound delegation from Australia to explore areas of trade, investment, technology opportunities on April 7, 2025. The delegation was led by Mr. Yann Sinclair, Vice Consul at the Australian Consulate General in Mumbai and it included Mr. Raman Bhalla, President of the Sydney Investors, Professionals and Business Network Inc., Ms. Malini Dutt, Trade and Investment Commissioner – India, Investment NSW and Ms. Dimple Merchant, Committee Member and Regional Coordinator, ANZ India Business Chamber.

Speaking on this occasion, Mr. Sinclair informed, “India holds immense strategic and economic importance for Australia. The Australian government has recently launched an India-specific strategy titled ‘New Roadmap for Australia’s Economic Engagement with India’, aimed at deepening and broadening its trade and investment relationship with India.”

Earlier in her welcome address, Ms. Rupa Naik, Executive Director, WTC Mumbai underscored the importance of the Economic Cooperation and Trade Agreement (ECTA) as a key driver in enhancing bilateral trade and investment between India and Australia.

She stated, “In the last five years, bilateral trade between India and Australia has more than doubled, rising from USD 10.7 billion in 2020 to USD 22.4 billion in 2024. This month marks the third anniversary of the India-Australia Economic Cooperation and Trade Agreement. Since its implementation, ECTA has emerged as a pivotal catalyst for trade and investment growth. However, there remains immense untapped potential in both trade and investment between our two countries. Both nations may consider expediting the negotiation process for a comprehensive trade agreement to fully unlock the economic potential of this partnership.”

Mr. Bhalla highlighted the growing importance of India-Australia relations amidst shifting global trade dynamics. He stated, “Amidst the rising global trade protectionism, India stands out with its trade liberalization policies, including tariff reductions. India, with its vast consumer base, presents tremendous economic opportunities for Australian businesses. To fully leverage this potential, Australia must strategically identify and engage in key sectors such as defence, agribusiness, critical minerals, renewable energy, and food & beverages.”

Ms. Dutt informed, “Since the implementation of ECTA, bilateral trade has witnessed remarkable progress. There is great enthusiasm within the business communities of both countries regarding the strengthening of India-Australia relations. India and Australia are natural allies with strong complementarities. A comprehensive free trade agreement is a vital tool to fully harness these complementarities, and it remains one of our key priorities.”

Ms. Merchant highlighted the importance of the India-Australia-New Zealand partnership in building a progressive Indo-Pacific region.

The event was attended by the WTC Mumbai committee members along with industry leaders, businesses, MSMEs and startups from various sectors

Ms. Sangeeta Jain, Senior Director, All India Associations of Industries proposed the vote of thanks for the event

(From left to right): Mr. Raman Bhalla, President, Sydney Investors Professionals and Business Networking Inc (SIPBN), Ms. Sarah Morgan, CEO, CapTech2024, SIPBN, Ms. Dimple Merchant, Committee Member & Regional Co-ordinator, ANZ India Business Chamber, Ms. Rupa Naik, Executive Director of World Trade Center Mumbai, Ms. Sangeeta Jain, Senior Director, All India Association of Industries and Ms. Malini Dutt, Trade and Investment Commissioner, India, Investment NSW at the event

Mr. Raman Bhalla, President, Sydney Investors Professionals and Business Networking Inc (SIPBN) [middle] being felicitated by Ms. Rupa Naik, Executive Director, World Trade Center Mumbai (left) and Ms. Sangeeta Jain, Senior Director, All India Association of Industries (right)