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Australian Prime Minister Anthony Albanese has said that the Economic Cooperation and Trade Agreement (ECTA) signed between India and Australia is a transformative agreement, which will unlock the next level of potential in trade and investment.

He expressed his sincere appreciation for the large turnout of Australian investors that came to India as well as for the key Indian business houses that participated in the event. He added that the delegation of Australian investors is one of the most serious and high-profile ones to have visited India from Down Under. He was very optimistic about the complementarities between both the nations and added that this juncture is a turning point in accelerating economic co-operation and mutual benefits in the relationship between Australia and India.

Union Minister Piyush Goyal noted that the current goal of doubling the bilateral trade must be reset by the industries and CEOs as there was great potential to increase trade manifold between the two nations. He also reiterated the growth potential of the bilateral trade and investments between India and Australia. Besides, Senator Don Farrell pointed out that $2.5 billion worth of trade benefitted from the lower tariffs arising from the ECTA agreement in Jan 2023 alone and reassured that this growth will continue to rise further. He urged the industry to think much bigger to satiate the demands of the growing relationship.