The next step in growing this trade is upgrading ECTA into a Comprehensive Economic Cooperation Agreement, or CECA.
Cricket has always been a shared passion for Australia and India. And while we are rivals on the field — and must be — off the field, we are close friends. This rivalry and friendship will be on full display during this year’s Summer of Cricket, when Australia and India face off in the 17th Border-Gavaskar Trophy. The first Test, which starts in Perth on November 22, will see Jasprit Bumrah and Pat Cummins hit the city’s famously fast and bouncy wicket hard. It will test the steel of Virat Kohli and Travis Head. And it will see thousands of passionate fans, Australian and Indian, cheer them all on. Who will come out on top? Well, Australia, of course.
Beyond my natural bias, it’s important for Australia that we win this series. That’s because the Border-Gavaskar Trophy is the only major men’s Test match trophy in which we have a losing record. We’ve retained the Ashes 40 times (to England’s 33), and we’ve kept the Trans-Tasman Trophy on 15 occasions compared to New Zealand’s four. But India has bested Australia in 11 of the 16 Border-Gavaskar series to date. For Australia, there’s a lot to bat for this summer.
Like in India, cricket in Australia is something to behold. From the grandeur of the Melbourne Cricket Ground, home to the mighty Boxing Day Test, to the charm of the Sydney Cricket Ground — 140 years old — the rolling greens of the Adelaide Oval and the colour and spark of the Gabba in Brisbane. There is something for everyone in Australia’s rich cricketing history. And the cities which surround these famous grounds are, in summer, full of life: Beaches, food, people and fun. What better time to see Australia and these iconic venues than during the Summer of Cricket?
And there is another reason to go. The Summer of Cricket will provide opportunities for businesspeople to make new connections — all through our common love of cricket. Each city will host VIP events on the sidelines of Test matches, where Indian business can rub shoulders with Australia’s political and industry leaders. To give you a sample: The Brisbane Test in mid-December will host a Sports Industry Conference which will highlight the latest trends in sports tech and innovation. Brisbane is hosting the 2032 Olympic and Paralympic Games; Prime Minister Narendra Modi has announced India will bid for the 2036 Games — the conference will showcase opportunities for collaboration. The Prime Minister’s XI, held in Canberra at the end of November, will feature a Gala Dinner at Australia’s Parliament House for industry, government, and community leaders.
These opportunities will further strengthen Australia-India economic ties, which are powering along under our Economic Cooperation and Trade Agreement, or ECTA. Under the agreement, our two-way trade has grown to nearly Rs three lakh crore per year, or 50 billion Australian dollars.
Importantly, ECTA — and trade with Australia — is working for India. Let me explain. Over the past five years, India’s exports to the world have grown 37 per cent. That’s impressive. But India’s exports to Australia over that same period have grown 66 per cent. That’s even better.
ECTA is also working for India in sectors that matter. A few examples show how. India expects agriculture exports to hit $100 billion by 2030: This year under ECTA, the country’s agriculture exports to Australia are up 32 per cent. India wants to reach $100 billion in automotive exports by the end of the decade: Its exports to Australia in this sector are up more than 100 per cent. And Delhi projects $100 billion in textiles exports by 2030: The country’s apparel exports to Australia are up nearly 20 per cent.
India will reach these targets by expanding trade with complementary economies. Australia is just that: We have the energy, resources and premium produce India will need as it grows towards Viksit Bharat by 2047. And, as ECTA statistics show, Australia is an advanced market that is hungry for Indian produce and manufactures. The opportunities for Indian businesses are real.
The next step in growing this trade is upgrading ECTA into a Comprehensive Economic Cooperation Agreement, or CECA. We won’t put deadlines on when this will be finalised, but we’re hard at work. India’s Commerce and Industry Minister, Piyush Goyal, travelled to Australia in September for detailed discussions on the agreement; ministers again spoke virtually in late October during the Australia-India CEO Forum. Chief Negotiators and their teams are meeting regularly.
This is the exciting background to this year’s Border-Gavaskar Trophy and the Summer of Cricket in Australia. It will be a festival of friendship, rivalry, colour, excitement — and serious opportunity. So, my message to you? Go for the cricket — stay for the business.
The writer is the Australian High Commissioner to India
