Australia to end tariffs on all Indian exports from January: Goyal
In a significant development that is expected to boost India’s 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 trade between the two nations, and the latest development is expected to further strengthen economic ties between India and 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 be able to export goods to Australia without having to pay any tariffs, 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 trade and investment between the two countries. The agreement has been successful in delivering sustained export growth, deeper market access, and stronger supply-chain resilience. Since its implementation, India’s exports to Australia have shown significant growth, and the elimination of tariffs on all Indian exports is expected to further accelerate this growth.
Minister Goyal stated that the agreement has been a “game-changer” for India’s exports, and the latest development is a testament to the strong economic partnership between India and Australia. He added that the elimination of tariffs will make Indian products more competitive in the Australian market, which will, in turn, benefit Indian businesses and consumers.
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 designed to promote mutual trade and investment, and to strengthen economic ties between the two countries. The elimination of tariffs on all Indian exports is a significant step forward in this direction, and is expected to have a positive impact on India’s economy.
The move is also expected to benefit Australian businesses and consumers, as they will have access to a wider range of Indian products at competitive prices. The elimination of tariffs will make Indian products more attractive to Australian consumers, which will, in turn, increase demand for Indian goods.
In recent years, India and Australia have been working closely to strengthen their economic ties. The two countries have been engaged in a range of initiatives, including trade agreements, investment promotion, and economic cooperation. The India-Australia ECTA is a significant milestone in this journey, and the elimination of tariffs on all Indian exports is a major step forward.
The development is also expected to have a positive impact on India’s trade deficit with Australia. India has been facing a trade deficit with Australia, and the elimination of tariffs on all Indian exports is expected to help bridge this gap. By making Indian products more competitive in the Australian market, the move is expected to increase India’s exports to Australia, which will, in turn, reduce the trade deficit.
In conclusion, the elimination of tariffs on all Indian exports to Australia is a significant development that is expected to boost India’s exports and strengthen economic ties between the two countries. The move is a testament to the strong economic partnership between India and Australia, and is expected to have a positive impact on India’s economy. As Minister Goyal stated, the agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, and the latest development is a major step forward in this direction.
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