- Further strengthens the bilateral ties between the countries; participates in IMME 2022 in Kolkata as a part of the visit
22nd November 2022: The Trade between India and Australia has been thriving over the last few years. Building on the growing relationship between both countries, Queensland's (Australia) six Mining, Equipment, Technology, and Services (METS) companies visited India recently to enhance the bilateral ties further.
Australia has a long and rich history as a prosperous mining nation and has one of the largest mineral reserves in the world. It holds a well-established mining industry with world-class equipment and technology. Furthermore, with technological developments such as AI, Blockchain, and traceability of mineral elements, more and more companies are keen to develop global efficiency and safety standards.
In light of the gaining momentum in the mining sector between India and Australia, Trade and Investment Queensland (TIQ), in close association with Confederation of Indian Industry (CII), participated in the International Mining & Machinery Exhibition (IMME) 2022. The event was held from 16th to 19th November 2022 in Kolkata, garnering participation from six leading METS companies from Queensland - showcasing their world-class capabilities.
Commenting on the countries' prospering bilateral ties and the METS companies' visit to India, Mr. Abhinav Bhatia, Senior Trade & Investment Commissioner (South Asia), said, "With the prospering relationship between India and Australia, we are delighted to have provided support to leading companies from Queensland in IMME 2022. The event proved to be an excellent platform for Queensland and Indian companies to meet and explore synergies. Several Queensland companies have already implemented their solution in the Indian industry, which has immensely benefited the entire ecosystem in terms of enhanced safety and productivity."
The following are the six Queensland companies that visited India:
In April 2022, India and Australia signed an Economic Cooperation and Trade Agreement (ECTA), which the government leaders of both countries supported. With changing dynamics in the Asia-Pacific region, this agreement is significant for the trade development and stability of the region.
Mr. Abhinav further added, "Australian firms are well-placed to meet India's growing demand for mining equipment, technology, and services. The Minerals, Resources, and Energy sectors in both countries will receive an impetus as a result of the recently signed interim Free Trade Agreement between Australia and India." The state of Queensland in Australia is, in fact, the global leader in METS. Their companies have a competitive edge in mining consultancy, exploration technologies, mining software, processing components and systems, environmental and mineral quality technologies and safety equipment, and mining skilling.
It is certain that with the Queensland METS companies' visit to India and supportive regulatory environment, several new collaborations will take shape in the coming months.
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