India, Australia must work towards enhancing resilience of supply chains: Piyush Goyal

Commerce and Industry Minister Piyush Goyal said on Monday that India and Australia must work towards resilience and greater engagement in the Indo-Pacific region. He said the Australia-India Business Champions Group's role has become extremely important as it provides a platform for greater engagement between the policymakers of the two countries.

"We would like to partner with Australia, one of our key trading partners for seamless integration into the Global Value Chains (GVCs)," noted the Union Minister. He was addressing the inaugural meeting of the Australia-India Business Champions on Monday.

The Commerce Minister was co-chairing the Australia-India Business Champions Group. He added the forum will play a pivotal role in supporting the agenda of the 'Australia-India CEO Forum' by highlighting the vibrant role being played by the business sector of both countries.

He said that while working as trusted partners, India and Australia must work towards enhancing the resilience of supply chains and greater engagement in the Indo-Pacific region.

"The Australia-India Business Champions Group's key aim is to liberalise and deepen bilateral trade between both the nations and pave the way for collaborative economic growth." said Dan Tehan MP, Minister of Trade, Tourism and Investment, Government of Australia.

The Australian Minister said India has become an important and relevant partner for Australia's economic strategy, especially in the areas of trade and investments.

"The India-Australia relationship continues to grow stronger underpinned by people-to-people ties, a shared past and other multifaceted commonality including cultural and social factors, presenting further prospects for the partnership," he said.

Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII), said that CII is fully committed to the business engagement of India and Australia. "Important areas such as mining, education, defense, space and emerging sectors can be taken forward," he said. He stressed that CII would complement and supplement the initiatives of the 'Business Champions' group.

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