Future of India-Australia Trade Relations
Future of India Australia Trade
Submitted To: Submitted By: Group-6
Prof. Anuj Sharma Harinder Pal Singh(12IB222) Nikhil Gupta(12IB240) Pooja Jain(12IB243) Tarang Agarwal(12IB259) Rahul Bhatnagar(12IB249) Ayush Sharma(12IB214)
Introduction
The economic relationship between Australia and India has developed rapidly in recent years, particularly under the impetus of India’s far-reaching process of economic reform and the resulting rapid globalisation of the Indian economy. In recognition of the growing synergies between the two economies, and the commitment on both sides to further enhance the economic partnership, Australia and India agreed in August 2007 to undertake a feasibility study for a possible bilateral FTA. This would help inform a subsequent decision by the two Governments about whether to proceed to FTA negotiations. In doing so, the study is without prejudice to whether possible future FTA negotiations between Australia and India would take up all issues in the forms considered in the study.
Terms of reference (TOR) for the study were developed and are set out in Annex A. Key elements of the TOR are:
i. to identify the strategic and economic benefits that India and Australia can derive from the establishment of an FTA;
ii. to develop a comprehensive policy framework for enhancing the bilateral economic relationship, including by assessing the feasibility of achieving desired outcomes through a comprehensive FTA covering trade
Submitted To: Submitted By: Group-6
Prof. Anuj Sharma Harinder Pal Singh(12IB222) Nikhil Gupta(12IB240) Pooja Jain(12IB243) Tarang Agarwal(12IB259) Rahul Bhatnagar(12IB249) Ayush Sharma(12IB214)
Introduction
The economic relationship between Australia and India has developed rapidly in recent years, particularly under the impetus of India’s far-reaching process of economic reform and the resulting rapid globalisation of the Indian economy. In recognition of the growing synergies between the two economies, and the commitment on both sides to further enhance the economic partnership, Australia and India agreed in August 2007 to undertake a feasibility study for a possible bilateral FTA. This would help inform a subsequent decision by the two Governments about whether to proceed to FTA negotiations. In doing so, the study is without prejudice to whether possible future FTA negotiations between Australia and India would take up all issues in the forms considered in the study.
Terms of reference (TOR) for the study were developed and are set out in Annex A. Key elements of the TOR are:
i. to identify the strategic and economic benefits that India and Australia can derive from the establishment of an FTA;
ii. to develop a comprehensive policy framework for enhancing the bilateral economic relationship, including by assessing the feasibility of achieving desired outcomes through a comprehensive FTA covering trade