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 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 countries, and the latest development is expected to take the bilateral trade relations 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 any tariffs on their exports to Australia, making their products more competitive in the Australian market. The move is expected to increase India’s 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 it is expected to further strengthen the trade relations between India and Australia.
Minister Goyal made the announcement on the third anniversary of the ECTA, highlighting the significant progress made under the agreement. He stated that the agreement has delivered on its promise of promoting trade and economic cooperation between the two countries. The elimination of tariffs on all Indian exports is a testament to the success of the agreement, and it is expected to have a positive impact on the Indian economy.
The move is expected to benefit a wide range of Indian exporters, including those in the textiles, pharmaceuticals, and agricultural sectors. Indian exporters will no longer have to pay tariffs on their exports, making their products more competitive in the Australian market. This will increase India’s exports to Australia, which will have a positive impact on the country’s trade balance.
The elimination of tariffs on all Indian exports is also expected to promote economic cooperation between India and Australia. The two countries have been working closely to promote trade and investment, and the latest development is expected to take the bilateral trade relations to the next level. The move is also expected to promote stronger supply-chain resilience, which will have a positive impact on the Indian economy.
In recent years, India and Australia have been working closely to promote trade and economic cooperation. The two countries have signed several agreements, including the ECTA, to promote bilateral trade and investment. The elimination of tariffs on all Indian exports is a significant milestone in the implementation of these agreements, and it is expected to have a positive impact on the Indian economy.
The move is also expected to promote job creation and economic growth in India. The increase in exports to Australia will lead to an increase in production, which will create new job opportunities in the country. The move will also promote economic growth, as the increase in exports will lead to an increase in economic activity.
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 promote economic cooperation between the two countries. The move is a part of the India-Australia ECTA, which has been successful in delivering sustained export growth, deeper market access, and stronger supply-chain resilience. The latest development is expected to take the bilateral trade relations to the next level, and it is expected to have a positive impact on the Indian economy.
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