Truss leads high-level trade delegation to India

The Australian Government Minister for Trade, Warren Truss, will lead a 50-member business delegation to India for the 16^th Joint Business Council (JBC) next week.

The visit, from 26 February to 2 March, will strengthen bilateral trade relationships and add impetus to Australia’s growing economic partnership with India.

Mr Truss said India is rapidly becoming one of Australia’s key trading partners.

“India has become Australia’s eleventh largest merchandise trading partner, growing faster than any of our top 30 export markets. Two-way trade in goods and services has increased to more than $12 billion in the last financial year,” Mr Truss said.

“The Indian economy has grown steadily at over eight per cent these past three years.

“This rapid growth along with India’s more outward-looking economy are deepening our commercial relationship and expanding opportunities for Australian business.

“Australian industry is well-positioned to complement India’s dynamic growth,” Mr Truss said.

The JBC is jointly organised by Austrade and the Australia India Business Council (AIBC). It is timed to coincide with the Joint Ministerial Commission meeting between Mr Truss and the Indian Minister for Commerce and Industry, Kamal Nath, in New Delhi.

The JBC comes almost a year after Prime Minister, John Howard, led a high-level business delegation to India. The visit resulted in six bilateral agreements being signed including the Trade and Economic Framework, which provides structure for both governments to enhance commercial engagement.

During the JBC, the Australian business delegation will meet with several senior Indian Government officials from various ministries and an Indian business group brought together by the Federation of Indian Commerce and Industry. The recommendations and resolutions resulting from these discussions will be conveyed to the Ministerial Committee.

National Chairman of the AIBC, Brian Hayes said: “With the growth and profitability of the Indian market, the world’s business focus has shifted to India. We have to ensure that Australian businesses capitalise on this opportunity.

“The JBC is possibly the only opportunity for Australian and Indian business leaders to come together in the same forum with political leaders and policy makers from both countries.

“It is a unique chance to influence policy and positively impact the commercial relationship between India and Australia,” Mr Hayes said.

Mr Truss said the JBC will give Australian and Indian businesses a chance to actively engage with each other and seek mutually-beneficial outcomes in the long-term.

Mr Truss will visit Chennai, Hyderabad, Mumbai and New Delhi. He will be accompanied by representatives of Australian businesses from banking and financial services, mining and resources, infrastructure, education, ICT, aviation, agribusiness, aquaculture and sports.

The Minister’s program will also include talks with the Chief Ministers of Tamil Nadu, Maharashtra and Andhra Pradesh and visits to a number of leading Indian companies.

Businesses participating in the Joint Business Council include:

Airservices Australia
Anderson Group
ANZ Banking Group
Australian Crane Machinery
BHP Billiton
Bromelton Investments
Business Intelligence Technologies
Careers International On Line
CI Group
Clifton Coney Group
Commonwealth Bank of Australia
CPA Australia
Deacons
Deakin University
Digital Electronics Corporation
Fiducian Portfolio Services
Fort Dodge Australia
GCS Systems & Services
Gujarat NRE Coke
InSTech Consultants
Investment Management Partners
KPMG
Leighton India
Macquarie Bank
National Australia Bank
Pars Ram Brothers Australia
Qantas Airways
Rio Tinto
SMEC International
Southern Cross Computer Systems
Tata Bluescope Steel
Thales Australia Air Systems
Thiess India
White Mining

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555