Indian Commerce Minister Piyush Goyal has set an ambitious target of a $500 billion economic relationship between India and Australia, ten times the current value of trade. He cited the strong trust built between the nations over the past decade as a reason for this ambitious goal.
An influential India n cabinet minister says Australia and India should aim for a $500 billion economic relationship, a tenfold increase on the current value of trade between the two nations.
He added that the goal of reaching a “$500 billion economic engagement” between the two nations was canvassed at a meeting he attended with business leaders in Sydney on Monday. The International Monetary Fund has forecast that the Indian economy, the world’s fifth-largest, will expand by a robust 7 per cent this year. In 2023, India surpassed China to become the world’s most populous nation.Goyal has held several economic portfolios in the government of Indian Prime Minister Narendra Modi since 2014 and is on the national executive of theHe played a key role in finalising the Australia-India Economic Co-operation and Trade Agreement in 2022.
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