A delegation will attend Australia Business Week in India (ABWI) in Chennai this week to build on Australia’s close agricultural trading ties with India.
Led by Assistant Minister to the Deputy Prime Minister, Luke Hartsuyker, the delegation will meet with Indian Government counterparts and leading Indian food industry representatives and importers.
India was Australia’s fifth-largest agricultural export market in 2016-17, with exports valued at $3.1 billion. It’s also one of the world’s fastest growing major economies – forecast to become the third-largest by 2030 – and has an expanding population of middle class consumers with a huge demand for high-quality foods.
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) projects that India’s agrifood demand will rise by 136 per cent between 2009 and 2050, reflecting strong income and population growth.
“India’s growing markets represent a wealth of opportunities for Australian suppliers of high-quality food as well as services, expertise and technologies that can increase the efficiency of food value chains in India,” said Mr Hartsuyker.
Opportunities to expand
“India is already a significant market for Australian produce including chickpeas, wheat, raw cotton, wool and lentils.”
There are also opportunities to expand trade in wool, cotton, oilseeds, edible oils, lamb, and horticulture, he said.
“There’s great potential for both countries to build on mutually-beneficial trade and I am eager to promote Australia’s premium agricultural sectors, including Aussie lamb, blueberries, grains and pulses, and help pave the way for new business opportunities.”
The delegation will visit processing facilities, a major port, a wholesale market complex, a large retail outlet selling Australian produce and a leading grocery e-retailer.
They will also attend forums, industry roundtables and meetings with networking opportunities where delegates will showcase Australian capabilities to Indian industry representatives.
ABWI will take place across multiple cities, starting in New Delhi today and running until September 1.
For more information visit: austrade.gov.au/Events/australia-business-week-india-2017