India's imports from Australia stand at AUD 7.58 bn

Mumbai, Nov 6 : India's imports from Australia in 2008-09 were worth Australian 7.58 billion dollar reflecting a share of 3.2 per cent its total imports, said Brain Hayes QC, Special Envoy to India, Government of South Australia.

Addressing an interactive business meeting organised by the All India Association of Industries (AIAI) and the World Trade Centre (WTC) here recently, Mr Hayes said India’s imports from Australia were confined to a smaller range of mainly primary commodities such as non-monetary gold, coal (coking), wool, copper and concentrates, silver and non-ferrous metal scrap.

India’s imports also included chickpeas, dried fruits, peas, pulses, apples and manufactured items. In 2007-08, they were at 7.84 billion Australian dollar. In that year, the imports largely composed of mineral resources.

Tracing the trading links between India and Australia to the East India Company, Mr Hayes said Australia’s first commercial export was a shipment of coal to India in 1797. Cooking coal and gold have become important components of Australia’s trade with India even today.

The formal trade relations between India and Australia, covered by a trade agreement signed in 1976, aimed at facilitating, diversifying and strengthening trade ties between the two countries, he said.

Mr Hayes added that the Australian Trade Commission (ATC) has embarked on a very focused sector-specific strategy to offer Australian technology, expertise and solutions for Indian businesses in the areas of resources, mining and energy; infrastructure; building and construction; food and beverage; agri business; ICT; film, media and entertainment; retail and financial services.

AIAI president Vijay Kalantri, in a release here today, said India’s exports to Australia were diverse but volumes were not very large. India traditionally exported textiles and clothing to Australia.

--UNI

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