Australia to end tariffs on all Indian exports from January: Goyal
In a significant development, Commerce Minister Piyush Goyal has announced that Australia will eliminate tariffs on all Indian exports starting January 1, 2026. This move is a part of the India-Australia Economic Cooperation and Trade Agreement (ECTA), which was signed three years ago. The agreement has been instrumental in promoting trade between the two nations, and the latest development is expected to further boost Indian exports to Australia.
According to Minister Goyal, 100% of Australian tariff lines will be zero-duty for Indian exports, effective January 1, 2026. This means that Indian businesses will no longer have to pay tariffs on their exports to Australia, making their products more competitive in the Australian market. The move is expected to benefit a wide range of Indian industries, including textiles, pharmaceuticals, and agriculture.
The India-Australia ECTA was signed on April 2, 2022, with the aim of promoting economic cooperation and trade between the two nations. The agreement has been successful in delivering sustained export growth, deeper market access, and stronger supply-chain resilience. Since its implementation, Indian exports to Australia have shown a significant increase, and the elimination of tariffs is expected to further accelerate this growth.
Minister Goyal made the announcement on the third anniversary of the ECTA, highlighting the agreement’s achievements and its potential to further boost trade between India and Australia. “The agreement has delivered sustained export growth, deeper market access and stronger supply-chain resilience,” he stated. The minister’s remarks suggest that the Indian government is committed to strengthening trade ties with Australia and exploring new opportunities for Indian businesses.
The elimination of tariffs on Indian exports to Australia is a significant development, as it will make Indian products more competitive in the Australian market. Australian consumers will also benefit from the move, as they will have access to a wider range of Indian products at competitive prices. The agreement is expected to promote two-way trade between the two nations, with Australia also expected to increase its exports to India.
The India-Australia ECTA is a comprehensive agreement that covers a wide range of areas, including trade in goods and services, investment, and economic cooperation. The agreement has been successful in promoting trade between the two nations, and the elimination of tariffs is expected to further boost trade volumes. The agreement has also promoted cooperation between Indian and Australian businesses, with several joint ventures and partnerships being established in recent years.
The Indian government has been actively pursuing trade agreements with several nations, including Australia, to promote Indian exports and attract foreign investment. The ECTA with Australia is one of the several trade agreements that India has signed in recent years, and it is expected to play a significant role in promoting trade between the two nations.
In conclusion, the announcement by Minister Goyal that Australia will eliminate tariffs on all Indian exports starting January 1, 2026, is a significant development that is expected to boost Indian exports to Australia. The move is a part of the India-Australia ECTA, which has been successful in promoting trade between the two nations. The agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, and the elimination of tariffs is expected to further accelerate this growth. Indian businesses are expected to benefit significantly from the move, and it is expected to promote two-way trade between the two nations.
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