Commerce minister Piyush Goyal and Australian Trade, Tourism, and Investment minister Dan Tehan signed the India-Australia Economic Cooperation and Trade Agreement (IndAus ECTA).
Piyush Goyal, Union Commerce and industry minister, stated on saturday that 10 lakh employment will be generated in india over the next four to five years. He stated that the new trade agreement with australia is likely to increase bilateral trade to roughly $45-50 billion over the next five years, up from the current $27 billion. In addition, the government anticipates that 10 lakh employment would be produced in india during the next four to five years.
We have broadened the scope of our bilateral relationships. india has provided australia with access to a variety of services. He predicted that numerous new possibilities for indian cooks and yoga instructors will emerge in the coming years. This deal also includes post-education employment visas for our young boys and girls visiting Australia. Goyal stated that around one lakh indian students live in australia and also presented facts on tourist marketing.
He stated that around one lakh indian students live and study in Australia. To increase tourism, we are considering a work and vacation visa regime. A post-study work visa of two to four years would be offered for indian students, particularly STEM (Science, Technology, Engineering, and Mathematics) graduates.
