Export of processed Indian foods to Australia is on the increase as the demand for products reaches new levels. It is hoped that increasing exports of food products from India could also help bridge its trade deficit vis-a-vis Australia.
Richard Kovac, Senior Trade Commissioner at the Australian High Commission in New Delhi, said processed Indian foods are increasingly occupying more space in departmental stores across the country as Australians seek some of the foods they have come across while travelling.
Kovac added that that the volume of Indo-Australian bilateral trade in year 2000 was of the order of A$2.5bn (US$1.25bn). Of this, Australia’s exports to India stood at A$1.8bn, while India’s exports to Australia accounted for A$700m. Bilateral trade between India and Australia is growing at around 10% annually.
Kovac also noted that India was a good investment for Australian food companies as trade restrictions between the two countries are phased out. New Delhi-based M.B. International Pvt Ltd has already forged an alliance with Paton’s Macadamia Plantation Pty Ltd for marketing Paton’s range of cholesterol-free confectionery and oil products in India. These include Macademia nuts and chocolates, jams, barbecue sauces, chutneys and edible oils.