Australia to end tariffs on all Indian exports from January: Goyal
In a significant development that is expected to boost bilateral trade between India and Australia, 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 take the economic partnership 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 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 increase Indian exports to Australia, creating new opportunities for businesses and entrepreneurs in both countries.
The India-Australia ECTA was signed on April 2, 2022, with the aim of strengthening economic ties between the two nations. The agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, according to Minister Goyal. The elimination of tariffs on Indian exports is a significant milestone in the implementation of the ECTA, and it is expected to have a positive impact on bilateral trade.
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 aims to promote trade and investment between the two countries, and to create new opportunities for businesses and entrepreneurs. The elimination of tariffs on Indian exports is a key component of the agreement, and it is expected to make Indian products more competitive in the Australian market.
The Australian market offers significant opportunities for Indian exporters, particularly in sectors such as textiles, leather, and gems and jewelry. India is also a major exporter of services, including IT and IT-enabled services, and the ECTA is expected to promote the export of these services to Australia. The agreement is also expected to promote investment between the two countries, particularly in areas such as infrastructure, renewable energy, and manufacturing.
The elimination of tariffs on Indian exports is a significant development, and it is expected to have a positive impact on the Indian economy. The move is expected to increase Indian exports to Australia, creating new opportunities for businesses and entrepreneurs. It is also expected to promote investment between the two countries, particularly in areas such as infrastructure, renewable energy, and manufacturing.
In his statement, Minister Goyal noted that the ECTA has delivered sustained export growth, deeper market access, and stronger supply-chain resilience. He also stated that the agreement has created new opportunities for businesses and entrepreneurs in both countries. The elimination of tariffs on Indian exports is a significant milestone in the implementation of the ECTA, and it is expected to take the economic partnership between India and Australia to the next level.
The India-Australia ECTA is a significant development in the context of India’s trade policy. The agreement is part of India’s efforts to promote trade and investment with other countries, particularly in the Asia-Pacific region. The agreement is also expected to promote economic cooperation between India and Australia, particularly in areas such as infrastructure, renewable energy, and manufacturing.
In conclusion, the elimination of tariffs on Indian exports to Australia is a significant development that is expected to boost bilateral trade between the two nations. The move is part of the India-Australia ECTA, which was signed three years ago. The agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, according to Minister Goyal. The elimination of tariffs on Indian exports is a key component of the agreement, and it is expected to make Indian products more competitive in the Australian market.
The development is expected to have a positive impact on the Indian economy, particularly in sectors such as textiles, leather, and gems and jewelry. It is also expected to promote investment between the two countries, particularly in areas such as infrastructure, renewable energy, and manufacturing. The India-Australia ECTA is a significant development in the context of India’s trade policy, and it is expected to promote economic cooperation between India and Australia.
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