Australia is partner country in Bengal Global Business Summit 2022

Partha Roy, Kolkata: The Indo-Australian Chamber of Commerce (IACC) launched its East India Chapter to build stronger economic ties between Eastern India & Australia. The hybrid event in Kolkata was attended by industry and government partners, academia and media.

The Indo-Australian Chamber of Commerce (IACC), established in 1989, is the only bilateral Chamber of Commerce in India promotes trade and investment between India and Australia. The Chamber was established on a vision of two former Prime Ministers – Mr. Bob Hawke, Prime Minister of Australia and Mr. Rajiv Gandhi, Prime Minister of India. IACC is a national bilateral Chamber, headquartered in Chennai. IACC CEO, Ms. Petula Thomas, said “The IACC’s East India Chapter will play a key role in driving the overall mission and objectives of the Indo-Australian Chamber of Commerce, in the East India region. It will serve as the local guiding point for business growth and advocacy, participating in strategic initiatives that enhance B2B/B2G engagement like the upcoming Bengal Global Business Summit (BGBS 2022). We see the opportunity for trade and investment collaboration in priority sectors like Resources and Energy, Mining Equipment Technology Services (METS) including critical minerals, IT and emerging tech, Agribusiness, Education and Healthcare. Along with our members, we eagerly look forward to what the interim free trade agreement (FTA) to be signed between India and Australia will offer our members in terms of easier market access, lower tariffs and other concessions.”

Australia’s Minister for Trade, Tourism and Investment Mr. Dan Tehan MP, during his keynote address (virtual) said “This launch is well-timed because the Australian and Indian Governments have been working hard to conclude an interim free trade agreement as a pathway to a full Comprehensive Economic Cooperation Agreement, known as CECA. The CECA will open new opportunities and deliver commercial benefits for Australian and Indian business. The IACC and its members can make helpful contributions to ensure the benefits of CECA for businesses are understood, supported and promoted. Government alone cannot grow the trade and business relationship between Australia and India. Business people and entrepreneurs such as IACC members can use their knowledge and networks to build the trade and investment and practical cooperation between our countries.”

Speaking at the event, Australian Consul-General in Kolkata, Ms. Rowan Ainsworth said “This launch marks not only a new chapter for the IACC but a new chapter in business relations between Australia and India. Australia is pleased to be a partner country for the Bengal Global Business Summit and so excited to be working with the IACC on this endeavor. Australia-India relations have never been stronger!”

India was represented by Janab Firhad Hakim, Minister in Charge, Urban Development & Municipal Affairs, Department, Transport and Housing Department, Government of West Bengal & Mayor of Kolkata, Smt. Vandana Yadav IAS, Managing Director, WBIDC and Secretary, Department of Industry, Commerce & Enterprise, Government of West Bengal and Shri Rajesh Pandey IAS, Principal Secretary, Department of Micro, Small & Medium Enterprises and Textiles, Government of West Bengal. Some of the Australian companies operating in eastern & Northeastern India are MD Mineral Technologies, SMEC India Pvt Ltd, Tata BlueScope Steel, Orica (Indian Explosives Pvt Ltd), Worley India.

IACC Eastern India chapter will be involved in multi-sectoral trade promotion in eastern and northeastern Indian states of West Bengal, Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Sikkim, and Tripura.