Saturday, October 16, 2021

India, Australia must work towards enhancing resilience of supply chains & greater engagement in Indo-Pacific region: Piyush Goyal

Commerce and Industry minister Piyush Goyal stressed that India and Australia must work towards enhancing the resilience of supply chains and greater engagement in the Indo- Pacific region.

Mr Goyal  said,  Australia-India Business Champions Group’s role has become extremely important as it provides a platform for greater engagement between the policymakers between the two countries.  Addressing the Inaugural Meeting of the Australia India Business Champions today, Mr Goyal said, both the nations stand united for sustainable recovery from the COVID-19 crisis and it is imperative to sustain the momentum for rebuilding as well as reconstructing the economy by focussing on enhancing the export potential.

He said, as the  government has embarked on the journey of transforming India into a global hub of supply chains and re-invigorating the economy , India would like to partner with Australia, one of its key trading partners for seamless integration into the Global Value Chains (GVCs).  Mr Goyal said, that focus would be to chart a course for ensuring effective usage of the huge entrepreneurial talent, developing a domestic market with a thriving private sector as well as skilled labour. The minister highlighted the key goal must be to strengthen international supply chains, and fully capitalize on the currently favourable geopolitical phenomenon.

The Minister who is co-chairing the Australia-India Business Champions Group stated that this forum will play a pivotal role in supporting the agenda of the Australia-India CEO Forum by highlighting the vibrant role being played by the business sector of both the countries. Dan Tehan Australian Minister of Trade, Tourism and Investment said, the Australia-India Business Champions Group’s key aim is to liberalise and deepen bilateral trade between both the nations and pave the way for collaborative economic growth.

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