Piyush Goyal reviews CECA progress in Melbourne as India–Australia trade hits USD 24.1B in FY25.
In a significant push toward strengthening economic ties, Union Commerce and Industry Minister Shri Piyush Goyal visited Melbourne, Australia, on 8th November 2025 to conduct high-level bilateral discussions aimed at accelerating progress on the India–Australia Comprehensive Economic Cooperation Agreement (CECA).
Minister Goyal met with Senator the Hon. Don Farrell, Australia’s Minister for Trade and Tourism, and Andrew Giles, Minister for Skills and Training. The leaders engaged in constructive dialogue focused on unlocking the full potential of the India–Australia economic partnership, with the goal of delivering an ambitious and balanced CECA.
Trade Momentum on the Rise
During FY 2024–25, bilateral merchandise trade between the two nations soared to USD 24.1 billion. India’s exports showed strong resilience, registering 14% growth in FY 2023–24, followed by an additional 8% growth in FY 2024–25, fuelling optimism for deeper market access and investment opportunities.
The ministers reviewed progress on multiple fronts, discussing:
- Trade in goods and services
- Investment opportunities
- Supply chain cooperation
- Mutually beneficial commercial frameworks
Commitment to Early Conclusion
Both sides reaffirmed their resolve to work constructively toward concluding CECA at the earliest, building on momentum from the Economic Cooperation and Trade Agreement (ECTA), which came into force in December 2022. CECA is expected to deliver broader tariff reductions, greater market entry, and enhanced collaboration across emerging sectors.
Engaging the Business Community
While in Melbourne, Shri Goyal also interacted with Indian diaspora business leaders, accompanied by Ministers Farrell and Giles. The dialogue showcased:
- Opportunities for stronger commercial linkages
- The diaspora’s influence in bilateral economic diplomacy
- Pathways to expand joint ventures and supply chain partnerships
The participation of community stakeholders underscored a shared belief that trade growth must be driven not only by policy but also by people.
As CECA negotiations continue, expectations remain high for a landmark agreement that will reshape trade corridors, strengthen supply chains, and deepen India–Australia economic engagement for decades to come.
Source: PIB
