Powering the Partnership: India and Australia Spotlight Trade, Tech & Critical Minerals

A high-level webinar was jointly hosted by MVIRDC WTC Mumbai, the Australia India Business Council (AIBC), and the All India Association of Industries (AIAI). The event brought together senior government officials and industry leaders from both countries to discuss actionable trade opportunities, sectoral synergies, and the evolving policy landscape, including the India–Australia Economic Cooperation and Trade Agreement.

Mr. Michael Carter, Head of International Trade Services at the Chamber of Commerce and Industry of Western Australia, referenced Australia’s India Economic Strategy to 2035, identifying long-term opportunities in sectors such as education, agribusiness, clean energy, healthcare, financial services, and innovation. With over 100,000 Indian students in Australia, people-to-people ties were recognized as a major economic enabler. He highlighted India’s potential to emerge as a global food supplier and a tech innovation powerhouse in AI, fintech, and quantum computing, presenting immense opportunities for bilateral collaboration in these high-impact sectors.

Mr. Abhinav Bhatia, Queensland Senior Trade and Investment Commissioner, highlighted Queensland’s strong economic ties with India, noting that India was its fourth-largest export market in 2024, contributing to nearly 60% of Australia’s total exports to India, valued at $14.4 billion. He emphasized immense potential in digital infrastructure, critical minerals (lithium, cobalt, vanadium), and the growing demand for affordable housing, while underlining a growing convergence in sports infrastructure and digital innovation in the light of the upcoming Brisbane 2032 Olympics and India’s potential interest in holding the 2036 Olympics.

Dr. Vijay Kalantri, Chairman of MVIRDC WTC Mumbai and President of AIAI, aligned the discussion with India’s long-term vision of becoming a $5 trillion economy by 2027–28, and a $32 trillion economy by 2047 in line with initiatives like Make in India and Gati Shakti. He stated that with the right investment in infrastructure, mining, IT, and re-export hubs, India–Australia trade could reach $100 billion in the near future. Addressing trade barriers, Dr. Kalantri remarked, “When one door closes, three others open. India is actively creating new pathways, and Australia is a key partner in this journey.”

Mr. Deepak-Raj Gupta OAM, National Chair of AIBC, emphasized the scale of bilateral trade and services, valued at over $53 billion, and pointed to strategic initiatives like the Accessing New Markets Initiative (ANMI) – a $50 million AUD program aimed at helping Australian exporters enter and expand in new markets with a growing focus on Indian and South Asian markets. He underlined the immense trade potential between both nations, driven by complementary strengths and a shared vision for regional growth.

Ms. Priya Pansare, Director, Trade & Investment Promotion at WTC Mumbai, reinforced the importance of manufacturing, technology, and infrastructure, which are key pillars of India’s growth vision, as the country possesses strong momentum in its high-growth phase. She highlighted the upcoming Global Economic Summit, to be held at WTC Mumbai, which will bring together international business communities and policymakers to drive strategic collaborations and global partnerships.

Moderated by Poornima Menon, AIBC NSW Vice President, the session provided valuable insight into regulatory awareness, market entry challenges, and the need for greater education and engagement between businesses on both sides of the Indian Ocean. Issues such as logistics, cultural barriers, and compliance were also addressed, with consensus on the need for streamlined regulations and mutual awareness.

The session was well attended and enriched by active interactions. With strategic roadmaps now in place and sector-specific partnerships gaining traction, the webinar underscored that the India–Australia trade corridor is entering a high-growth decade, offering tremendous opportunities for businesses, investors, and innovators.