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
The issue was discussed in detail on Friday at the ongoing Dubai Expo as part of India's fortnight event on 'Food, Agriculture and Livelihood'. During the session, senior government officials and sector experts deliberated on opportunities for Indian industry players to enhance the country's export potential.
Imports too rose to $45.45 billion last month as against $17.09 billion in April 2020. Due to the Covid-19 pandemic induced lockdown last year, exports shrank by a record 60.28 per cent in April 2020. In April 2021, oil imports stood at $10.8 billion as compared to $4.65 billion in the corresponding month last year.