What is the Australian Government doing to get a Free Trade Agreement with India? Very little, maybe nothing.
Austrade certainly knows the importance of increasing India trade: “With trade wars, powerful neighbours, and the odds on a recession narrowing within the next two years, considering Indian market entry has never been more mission-critical for Australian business.”
One statistic shows why the FTA makes a difference – according to the Australian Bureau of Statistics, in 2016–17 (the latest year for which there is data), only 2,087 Australian exporters engaged with India (no FTA), compared to 7,214 for China (we have FTA).
Time for Prime Minister Morrison to make this a personal priority, engage with Indian PM Modi and overcome any remaining obstacles to a free trade deal.
Our China exports are around A$190 billion while India is far behind at around A$20 billion.
We can do much better than this – but it takes an FTA to kick start it.
Come on Australia!