Surat Jewellers upbeat with first consignment under India-Australia ECTA

SURAT: With India-Australia Economic Cooperation and Trade Agreement (ECTA) coming into effect on Thursday, the first export consignment from Surat to Australia belonged to Surat Jewellers Association’s President Salim Daginawala.

From different ports such as Surat, Chennai and Mumbai several first consignments under the agreement were flagged off.

Addressing industry representatives in Mumbai, Union Minister of Commerce and Industry Piyush Goyal said, “There is a lot of potential for exporting finished products to Australia, which is largely a raw material producing country. So, it’s a complete win-win.”

Calling Gujarat as one of biggest contributor in the exports from India, Development Commissioner of Surat Special Economic Zone Virendra Singh, said, “Currently Gujarat is ahead of most of the exporting states and the ECTA will help Gujarat, especially Surat.”

Reflecting on Australia’s trajectory as a vibrant cultural melting pot, Joint DGFT-Surat Abhimanyu Sharma said, “The 700,000-strong Indian diaspora are the major contributors to its economy.”

“The ECTA enables Indian Gems and Jewellery exporters duty-free access to the market,” he added.

Courtesy: KNN