India`s tenure as the G-20 chair comes at a time when the world order is facing an increasing threat of global recession looming large and intensifying energy and food shortages causing unprecedented inflationary pressure and making cost of living unaffordable in both advanced and developing nations while Russia-Ukraine war continues unabated.
Following the footprints of Maldives, Australia too did not participate in the "China-Indian Ocean Forum on Development Cooperation" that held on November 21. Australia`s High Commissioner to India, Barry O`Farrell took to Twitter to clarify about the same and tweeted, "Contrary to media reporting, no Australian Government official attended the Kunming China-Indian Ocean Forum on Development Cooperation.”
Australia’s stock of investment in India was $15.4 billion in 2020 Under FTA, Australia will offer zero-duty access to India for about 96 percent of its exports (by value) from Day One 'India-Australia FTA is expected to raise bilateral trade to $45-50 billion in the next five years' says Piyush Goyal
India has inked an Economic Cooperation and Trade Agreement (ECTA) with Australia ECTA paves the way for such students to study in Australia which has been a popular choice for Indian students over the year Australia will provide work and holiday visas to around 1000 Indians in the age group of 18 to 30 for one year