Commerce Minister holds bilateral talks with Australian counterparts Don Farrell and Andrew Giles to strengthen trade and investment cooperation under CECA framework.
New Delhi / Melbourne ( Economy India) | India’s Commerce and Industry Minister Piyush Goyal arrived in Melbourne on November 8, 2025, to hold a series of high-level bilateral meetings with Australia’s Minister for Trade and Tourism, Senator Don Farrell, and Minister for Skills and Training, Andrew Giles. The discussions focused on enhancing the India-Australia economic partnership and reviewing the progress of the ongoing Comprehensive Economic Cooperation Agreement (CECA) negotiations.
Focus on Strengthening CECA Negotiations
During the talks, both sides reviewed the progress made in the CECA negotiations and explored avenues to deepen cooperation in areas such as trade in goods and services, investment, and skill development. The ministers reaffirmed their commitment to working towards an ambitious, balanced, and mutually beneficial CECA, building upon the foundation of the existing Economic Cooperation and Trade Agreement (ECTA), which came into force in December 2022.
Minister Goyal underscored the importance of leveraging complementary strengths between India and Australia to achieve the full potential of their economic partnership. “Our discussions were constructive and forward-looking, focusing on realizing the shared vision of an open, resilient, and inclusive Indo-Pacific economy,” he said.
India-Australia Trade Continues to Grow
According to official data, bilateral trade between India and Australia reached USD 24.1 billion in FY 2024-25, marking a consistent upward trend. India’s exports to Australia grew 14% in FY 2023-24 and 8% in FY 2024-25, driven by demand for sectors such as pharmaceuticals, engineering goods, and textiles.
Analysts believe that a comprehensive CECA will further facilitate market access, enhance investment flows, and strengthen cooperation in critical areas like clean energy, digital trade, and supply chain resilience.
Engagement with Indian Diaspora and Business Leaders
During his visit, Minister Goyal also met select members of the Indian diaspora and business community in Melbourne, accompanied by Ministers Farrell and Giles. The discussions highlighted the role of the Indian-Australian business community in advancing bilateral trade ties and fostering innovation-led collaboration.
Goyal lauded the contribution of the Indian diaspora, describing them as a vital bridge between the two economies. He encouraged businesses from both nations to seize opportunities in emerging sectors such as renewable energy, education, and advanced manufacturing.
Commitment to a Shared Economic Vision
Both nations reiterated their shared goal of finalizing the CECA at the earliest, with a focus on equitable market access, technology cooperation, and sustainable growth. The ministers emphasized that a successful CECA will not only enhance trade and investment flows but also reinforce the strategic economic partnership between India and Australia in the Indo-Pacific region.
(Economy India)
