On 14 November 2024, Melbourne’s ANZ Australia Bank hosted the ‘Australia–India Agribusiness Roundtable’, a collaborative effort between the Australia India Institute and the Consulate General of India. This luncheon event brought together stakeholders from government, think tanks, and the private sector to discuss innovative solutions and opportunities in agribusiness, aiming to foster collaboration and strengthen agricultural ties between the two nations.
Victoria, as a leading agricultural state in Australia, has established itself as a key partner for India, particularly in dairy, meat, grains, and horticulture. The demand for high-quality agricultural products in India continues to rise, presenting exciting opportunities for collaboration. Victoria’s innovative agricultural practices and India’s growing market create a promising landscape for trade and investment.
The roundtable discussions focused on enhancing partnerships, exploring new opportunities, and addressing challenges within the agribusiness sector. Participants emphasised the importance of leveraging each country’s strengths to meet the growing demand for quality agricultural products.
This event aligns with recent efforts to bolster economic ties between Australia and India. In October 2024, ANZ released a report titled ‘India: The Next Frontier for Australian Agriculture’, highlighting India’s thriving agricultural sector and the opportunities it presents for Australian exporters. The report notes that India has become a global front-runner in agricultural production, being the largest producer of milk, pulses, and spices, and possessing the world’s largest bovine herd. However, challenges such as water stress and reliance on the global fertiliser market remain.
The Australia–India Economic Cooperation and Trade Agreement (ECTA), which came into force in December 2022, has further facilitated trade between the two countries. Since its implementation, agricultural exports to India have increased by 50%, particularly in products like sheep meat, seafood, broad beans, citrus, and almonds.
The roundtable in Melbourne represents a continued commitment to strengthening the agricultural partnership between Australia and India. By fostering collaboration and addressing shared challenges, both nations aim to enhance their agribusiness sectors and contribute to global food security.
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