Truss leads high-level Australian trade delegation to India

New Delhi, Feb 23 (UNI) A 50-member business delegation led by Australian Minister for Trade Warren Truss will arrive on a five-day visit to India from February 26 during which it will attend the 16th Joint Business Council aimed at strengthening bilateral trade ties.

''India has become Australia's 11th largest merchandise trading partner, growing faster than any of our top 30 export markets.

Two-way trade in goods and services has increased to more than 12 billion Australian dollars in the last financial year,'' Mr Truss said in a statement ahead of his departure.

With a steady growth of 8 per cent of the Indian economy, he said Australian industry was well-positioned to complement India's dynamic growth.

''This rapid growth along with India's more outward looking economy are deepening our commercial relationship and expanding opportunities for Australian business,'' Mr Truss said.

The JBC, which is being jointly organised by the Australian Trade Commission and the Australia India Business Council (AIBC), is timed to coincide with the Joint Ministerial Commission meeting between Mr Truss and Commerce and Industry Minister Kamal Nath.

Set up almost a year ago during Prime Minister John Howard's visit to India, the JBC will provide the visiting business delegation a chance to meet senior Indian Government officials and businessmen under the aegis of the Federation of Indian Chambers of Commerce and Industry (FICCI).

He is accompanied by leading Australian representatives from banking and financial services, mining and resources, infrastructure, education, ICT, aviation, agribusiness, aquaculture and sports.

The delegation will visit Chennai, Hyderabad, Mumbai and New Delhi.

Businesses participating in the JBC include ANZ Banking Group, BHP Billiton, Tata Bluescope Steel, Thiess India, Gujarat NRE Coke, KPMG, Leighton India, Macquarie Bank and Qantas Airways.

UNI