India and Australia are currently discussing a free trade agreement (FTA) between the two countries, a senior Australian diplomat said here today.
“Discussion on FTA has been happening over the last couple of years. That is still continuing...,” Australian Trade Commissioner and Consul Commercial, Michael Carter said.
He said trade relations between the two countries have been growing steadily and in the last five years trade has “doubled” to reach Australian $20 billion.
“The forecast for the next couple of years is we are planning to double that figure to Australian $40 billion...,” he said here.
Noting that Mahindra and Mahindra and IT giant Infosys were some of the major investors in his country, Australian Consul General David Holly said, “the total Indian investments made in Australia till last year was Australian $11 billion”.
“We have seen quite a significant number of (Indian) investments in Australia”.
The Australian government representatives were here to announce the “Aussie Beach Day” which is being conducted as part of ongoing “OZFest” cultural festival between India and Australia, kick-started by the Australian Prime Minister, Julia Gillard in New Delhi last year.
The OZ FEST Cricket Cup, a yoga session, a display of ’29er class’ yachts from Tamil Nadu Sailing Association along with Australian members in Bay of Bengal will be held in Marina beach on January 19.
Describing Australian coastline as 3.5 times bigger than Indian coast line, David Holly said Aussie Beach Day is a wonderful platform to promote activities and initiatives that are common to both countries.