The 2022 India-Australia Economic Cooperation and Trade Agreement (ECTA) has helped bilateral trade between the 2 countries grow by almost 18 per cent (excluding coal and diesel). Works on the second pact is underway and it will build on this, Sarah Storey, First Assistant Secretary, South and Central Asia Division, Australian Department of Foreign Affairs and Trade, said here on Thursday.

Storey was speaking at the ‘Australia-India: Mobilising Women in Business’, a panel discussion hosted by the Australian Consulate-General in partnership with CII’s Indian Women’s Network in Chennai.

She said that the conclusion of the first FTA came through in 2022 and given the benefits and opportunities it has brought, there is now a “firm signal of intent” to conclude the second trade pact soon. “Nearly 1 million people, roughly 4 per cent of Australia’s population today, are Indians. Both politically and economically, the Indian diaspora plays an outsized role,” she said.

Storey said sectors such as agriculture, education, renewable energy, and tourism are key areas where India-Australia collaboration is set to bring in synergies. While the ECTA entered into force only in December 2022, Australia’s trade with India had grown steadily to become our fourth-largest goods and services export market, up from 15th in 1999, before that, she added.

Women in business

The Australian Consul-General Silai Zaki, Kuppulakshmi K Global Head, Zoho for Start-ups, and Saundarya Rajesh, Founder and President, Avtar were also part of the panel. The speakers deliberated and shared their experiences and ideas on how women’s participation in international trade can be strengthened.

Rajesh noted that entrepreneurship is tough as it is, but tougher for women. “Entrepreneurship is like jumping off a cliff and for women it involves taking care of many issues outside of work as they jump off the cliff,” she said. Further, their risk-taking ability is relatively stunted because of cultural conditioning, she added. She noted a need for programmes like the PM Internship Scheme that should focus more on women participants.

Zoho’s Kuppulakshmi said the software company today has a large representation of women globally and this happened more organically over the years. “There was no specific mandate, but as the company sought people to help in the growth journey, we found more women come forward and shine, and they have also been supported by the company,” she said.

The speakers also shared their views on a need to build a national and global sisterhood to support and uplift women across various areas of work and business.

Published on May 9, 2025