Team Blitz India
SYDNEY: Prime Minister Narendra Modi has said India and Australia are working on a Comprehensive Economic Cooperation Agreement (CECA), and exuded confidence that the bilateral trade will more than double in five years.
The two countries have already signed India-Australia Economic Cooperation and Trade Agreement (ECTA), he said on May 23, expressing hope the pact will help in doubling the two-way commerce in the next five years.
Addressing a community event at Sydney’s Qudos Bank Arena, the Prime Minister said the two countries are now working on CECA.
Modi, who is visiting Australia as a guest of the Australian government, said the air connectivity between India and Australia has increased and the number of flights would go up further in the coming days.
Australia was the 13th largest trading partner of India in 2022-23. While exports stood at USD 6.95 billion, imports from that country in the last fiscal aggregated at USD 19 billion.
