India & Australia bilateral trade growing with 23.4 per cent per annum

 The Australian Consulate in association with The Federation of Andhra Pradesh Chambers of Commerce & Industry and Greater Hyderabad Municipal Corporation (GHMC) organized a Seminar on ‘Opportunities for Bilateral Trade and Investment in Australia’ on 22nd May 2012 at Surana Udyog Auditorium, Red Hills, Hyderabad. Mr. Mohammad Majid Hussain, Hon’ble Mayor, Greater Hyderabad Municipal Corporation (GHMC) was the Chief Guest and Mr. Michael Carter, Consul Commercial & Trade Commissioner (South India), Australian Consulate was the guest of honour for this session.

Mr. V.S. Raju, President, FAPCCI, Mr. Devendra Surana, Senior Vice President, FAPCCI, Mr. Jaffer Hussain, Former Deputy Mayor, GHMC, Ms. Ayesha Rubina, Corporator, GHMC, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI, Mr. Srinivas Ayyadevara, Vice President, FAPCCI, are the speakers at the occasion.
I Am Inviting the Investors into Education, Research, Professional Exchange, Engineering & Medical sectors. The India and Australia was very strong in educational trade, both the countries have more than 20 potential MOU’s between India and Australia Mr. Michael Carter said. 

 Mr. Mohammad Majid Hussain, Hon’ble Mayor, Greater Hyderabad Municipal Corporation (GHMC) said in his key note address is that the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Two-way trade has grown in value from $3.3 billion in 2000 to $22.2 billion in 2010 a rise of 23.4 per cent per annum, with trade expected to double again to US$ 40 billion by 2015.

Mr. Michael Carter, Consul Commercial & Trade Commissioner (South India), Australian Consulate said that bilateral merchandise trade between India and Australia for the calendar year 2010 stood at AUD 18.336 billion, higher by 11 % over last year 2009.  Indian export to Australia for the calendar year 2010 was AUD1.967   billion a fall of 3.1 %, over the same period in 2009, while Indian imports from Australia stood at AUD 16.368 billion a rise of 13 % for the same period.

India’s exports of merchandise goods to Australia.   India top ten exports represent around 38 % of its overall export to Australia.  Diamonds & gems, Jewellery and Medicaments were the top three commodities from India.   India’s exports of merchandise goods to Australia have increased by an annual average of around 11 percent over the past five years to 2010.