Australia to end tariffs on all Indian exports from January: Goyal
In a significant development that is expected to boost India’s exports to Australia, Commerce Minister Piyush Goyal has 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 countries, and the latest development is expected to take the bilateral trade relationship to new heights.
Speaking on the third anniversary of the ECTA, Goyal stated that 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 any 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.
According to Goyal, the ECTA has delivered sustained export growth, deeper market access, and stronger supply-chain resilience. The agreement has been successful in promoting trade between the two countries, and the latest development is expected to further boost exports from India to Australia. The elimination of tariffs on all Indian exports is a significant step forward in the bilateral trade relationship between the two countries.
The ECTA was signed on April 2, 2022, and it came into effect on December 29, 2022. The agreement aims to promote trade and investment between India and Australia by reducing tariffs and other trade barriers. The agreement covers a wide range of areas, including goods, services, and investment. It also provides for cooperation in areas such as trade facilitation, customs procedures, and trade remedies.
The elimination of tariffs on all Indian exports to Australia is a significant development that is expected to benefit Indian exporters. Australia is a significant market for Indian exports, and the removal of tariffs will make Indian products more competitive in the Australian market. Indian exporters will no longer have to pay tariffs on their exports, which will increase their profitability and competitiveness.
The move is also expected to benefit Australian consumers, who will have access to a wider range of Indian products at competitive prices. The elimination of tariffs will also promote trade between the two countries, which is expected to lead to increased economic growth and job creation.
Goyal’s announcement has been welcomed by Indian exporters, who see it as a significant opportunity to increase their exports to Australia. The move is expected to benefit a wide range of Indian industries, including textiles, pharmaceuticals, and agriculture. Indian exporters are expected to take advantage of the zero-duty access to the Australian market to increase their exports and expand their market share.
The India-Australia ECTA is a significant agreement that aims to promote trade and investment between the two countries. The agreement has been successful in promoting trade between the two countries, and the latest development is expected to further boost exports from India to Australia. The elimination of tariffs on all Indian exports to Australia is a significant step forward in the bilateral trade relationship between the two countries.
In conclusion, the announcement by Commerce Minister Piyush Goyal that Australia will eliminate tariffs on all Indian exports starting January 1, 2026, is a significant development that is expected to boost India’s exports to Australia. The move is part of the India-Australia Economic Cooperation and Trade Agreement (ECTA), which has been instrumental in promoting trade between the two countries. The elimination of tariffs on all Indian exports will make Indian products more competitive in the Australian market, benefiting both Indian exporters and Australian consumers.
The development is expected to benefit a wide range of Indian industries, including textiles, pharmaceuticals, and agriculture. Indian exporters are expected to take advantage of the zero-duty access to the Australian market to increase their exports and expand their market share. The move is also expected to promote trade between the two countries, leading to increased economic growth and job creation.
As the India-Australia trade relationship continues to grow, it is expected that the elimination of tariffs on all Indian exports will play a significant role in promoting trade between the two countries. The move is a significant step forward in the bilateral trade relationship between the two countries, and it is expected to have a positive impact on the economies of both countries.
About the Author
