Australia to end tariffs on all Indian exports from January: Goyal
In a significant development that is expected to boost Indian exports, Commerce Minister Piyush Goyal announced that Australia will eliminate tariffs on all Indian exports starting January 1, 2026. This move is part of the India-Australia Economic Cooperation and Trade Agreement (ECTA), which was signed three years ago. The agreement has been instrumental in promoting bilateral trade between the two countries, and the latest development is expected to take the economic relationship to the next level.
According to Minister Goyal, 100% of Australian tariff lines will be zero-duty for Indian exports, effective January 1, 2026. This means that Indian exporters will no longer have to pay tariffs on any of their exports to Australia, making their products more competitive in the Australian market. The move is expected to increase Indian exports to Australia, which will have a positive impact on the country’s trade balance.
The India-Australia ECTA was signed on April 2, 2022, with the aim of promoting economic cooperation and trade between the two countries. The agreement has been successful in delivering sustained export growth, deeper market access, and stronger supply-chain resilience. The elimination of tariffs on all Indian exports is a significant milestone in the implementation of the agreement and is expected to further boost bilateral trade.
Minister Goyal made the announcement on the third anniversary of the ECTA, highlighting the successes of the agreement. “The agreement has delivered sustained export growth, deeper market access and stronger supply-chain resilience,” he stated. The minister’s remarks suggest that the agreement has been a win-win for both countries, with Indian exports to Australia increasing significantly since the signing of the agreement.
The elimination of tariffs on all Indian exports is expected to benefit a wide range of industries, including textiles, leather, jewelry, and machinery. Indian exporters will no longer have to pay tariffs on their products, making them more competitive in the Australian market. This is expected to increase exports from India to Australia, which will have a positive impact on the country’s trade balance.
The move is also expected to promote economic cooperation between the two countries. Australia is one of India’s major trading partners, and the elimination of tariffs on all Indian exports is expected to further strengthen the economic relationship between the two countries. The agreement is also expected to promote investment between the two countries, with Australian companies expected to invest in India and vice versa.
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 bilateral trade between the two countries, and the elimination of tariffs on all Indian exports is expected to take the economic relationship to the next level.
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. The move is part of the India-Australia ECTA, which has been successful in promoting economic cooperation and trade between the two countries. The elimination of tariffs on all Indian exports is expected to benefit a wide range of industries and promote economic cooperation between the two countries.
As the Indian economy continues to grow, the elimination of tariffs on all Indian exports to Australia is expected to play a significant role in promoting exports and increasing the country’s trade balance. The move is also expected to promote investment between the two countries, with Australian companies expected to invest in India and vice versa. Overall, the announcement is a positive development for the Indian economy and is expected to have a significant impact on the country’s trade relationship with Australia.
The India-Australia ECTA is a testament to the strong economic relationship between the two countries. The agreement has been successful in promoting bilateral trade and investment, and the elimination of tariffs on all Indian exports is expected to take the relationship to the next level. As the two countries continue to work together to promote economic cooperation and trade, the announcement is a significant step forward in strengthening the economic relationship between India and Australia.
In the coming months, Indian exporters are expected to benefit significantly from the elimination of tariffs on all Indian exports to Australia. The move is expected to increase exports from India to Australia, which will have a positive impact on the country’s trade balance. The announcement is also expected to promote economic cooperation between the two countries, with Australian companies expected to invest in India and vice versa.
Overall, 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 and promote economic cooperation between the two countries. The move is a testament to the strong economic relationship between India and Australia, and is expected to have a significant impact on the country’s trade relationship with Australia.
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