7 years ago
Successful Australia Business Week in India
Luke Hartsuyker MP
Trade delegation has returned home after promoting Australian agricultural capabilities at Australia Business Week in India
The delegation met with Indian government and industry representatives to promote Australian exports and strengthen trade relationships.
Assistant Minister to the Deputy Prime Minister, Luke Hartsuyker, returned to Australia after a successful visit promoting Australian agricultural products and linking Australian agricultural exporters to Indian importers.
Minister Hartsuyker said the trip to Chennai and New Delhi with Australian Trade, Tourism and Investment Minister Steven Ciobo and a 35 strong industry delegation had built networks with importers, retailers and government representatives.
“While trade between Australia and India is already strong there is significant potential for it to increase further—to the mutual benefit of farmers and producers in Australia and farmers, producers and consumers in India,” Minister Hartsuyker said.
“Australia Business Week in India (ABWI), is about giving the industries that drive our respective economies the opportunity to build stronger connections, to exchange information about needs and wants and to cement commercial arrangements.
“This delegation allowed Australia to engage effectively with Indian industry and I was fortunate to work closely with some of India’s largest horticulture importers, high-end retailers and hospitality entrepreneurs as well as leading experts on food security, agricultural production and consumer demand.
“Policy meetings with the Indian Minister for Agriculture and Farmers’ Welfare, the Hon Radha Mohan Singh, and the Indian Minister for Food Processing Industries, the Hon Madam Harsimrat Kaur Badal, also provided a critical insight into the opportunities a stronger relationship with India affords Australian agriculture.”
In Chennai Minister Hartsuyker focused on promoting the export of Australia’s pulses and grain and wholesale opportunities for Australian horticulture exports.
“We have a growing two-way trade in many agricultural commodities and products and this trip was about increasing that,” Minister Hartsuyker said.
“The expectation is that this trip results in a greater expansion in trade and more two-way investment opportunities.”
Minister Hartsuyker also heard from Indian and Australian industry leaders in New Delhi about how we can work cooperatively to improve the effectiveness and efficiency of logistics and food value chains.
The ABWI visit identified and promoted opportunities for Australian agricultural products and services across wholesale, traditional retail and e-retail, and processing sectors, and included discussion with industry leaders representing some of India’s largest agricultural importers and processors and producers.
Minister Hartsuyker said further plans for high-level industry dialogues in Mumbai had been cancelled due to tragic flooding across the region.
The ABWI was held from 28 August to 1 September 2017 in various centres across India. For more information, visit austrade.gov.au/Events/australia-business-week-india-2017.
Fast facts
India was Australia’s fifth-largest agricultural export market in 2016-17, with exports valued at $3.1 billion, up 475.5 per cent since 2011-12.
India is a significant market for Australian chickpeas ($1.1b), wheat ($743.3m), raw cotton ($389.0m), wool ($224.3m), and lentils ($200.0m).
The value of Australian wheat exports have enjoyed strong growth in recent years with over $395m exported in the first quarter in 2017.
India has an estimated GDP growth rate of 7.7 per cent for 2018, compared to the average of 1.7 per cent for G7 economies and boasts one of the world’s fastest growing economies, forecast to become the third-largest by 2030.