BVC facilitates India's first export under ECTA between India, Australia
The shipment was sent within hours of ECTA coming into force on December 29, 2022, for its client Venus Jewels
BVC Logistics, India's largest secure logistics company, on Friday announced the successful shipment of the first export under the India-Australia Economic Cooperation and Trade Agreement (ECTA).
The shipment was sent within hours of ECTA coming into force on December 29, 2022, for its client Venus Jewels. Earlier this year, BVC achieved another achievement of facilitating the first consignment under the CEPA agreement between India and UAE.
The ECTA aims to significantly enhance bilateral trade and create new employment opportunities, as well as improve the welfare of the people of India and Australia. In addition, under the trade pact, the total bilateral trade is expected to cross $45 Billion in 5 years and the Gems and Jewellery industry is also expected to benefit from the zero duty on imports and exports under the same.
The Group CEO of BVC, Bhavik Chinai said, "BVC is proud to facilitate yet another milestone for our industry by enabling the first exports from both BDB (Venus) and Seepz (Jewelex) to Australia under ECTA, which is India's second trade agreement in 2022 in which we enabled the first exports. Team BVC is committed to enabling logistics solutions to enhance the jewelry industry's contribution toward the $400B export goal of the country and are positive about the deepening trade relationship between Australia and India."