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. According to Minister Goyal, 100% of Australian tariff lines will be zero-duty for Indian exports, marking a major milestone in the trade relationship between the two countries.
The India-Australia ECTA was signed on April 2, 2022, with the aim of strengthening economic ties and promoting trade between the two nations. The agreement has been instrumental in increasing trade volumes, improving market access, and enhancing supply-chain resilience. As Minister Goyal noted, “The agreement has delivered sustained export growth, deeper market access and stronger supply-chain resilience.” This is a testament to the success of the ECTA in fostering a more favorable trade environment for Indian exporters.
Under the ECTA, both countries have committed to reducing tariffs on a wide range of products, including textiles, leather, jewelry, and pharmaceuticals. The elimination of tariffs on all Indian exports to Australia will provide a significant boost to Indian exporters, who will no longer have to pay duties on their products. This is expected to increase India’s exports to Australia, which have already shown significant growth since the signing of the ECTA.
The removal of tariffs will also make Indian products more competitive in the Australian market, allowing them to compete on a level playing field with products from other countries. This is particularly significant for Indian businesses, which will now have greater access to the Australian market. As Minister Goyal pointed out, the ECTA has already delivered sustained export growth, and the elimination of tariffs is expected to further accelerate this growth.
The 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 economic cooperation and trade between India and Australia, and to strengthen the bilateral relationship between the two countries. The elimination of tariffs on all Indian exports to Australia is a major step forward in the implementation of the ECTA, and is expected to have a significant impact on India’s exports to Australia.
The benefits of the ECTA are not limited to Indian exporters. The agreement is also expected to benefit Australian businesses, which will have greater access to the Indian market. The ECTA has already led to an increase in Australian exports to India, and the elimination of tariffs on all Indian exports to Australia is expected to further boost trade between the two countries.
In addition to the economic benefits, the ECTA is also expected to strengthen the bilateral relationship between India and Australia. The agreement has been seen as a significant step forward in the strategic partnership between the two countries, and is expected to promote greater cooperation and collaboration in areas such as trade, investment, and economic development.
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 India’s exports to Australia. The ECTA has already delivered sustained export growth, deeper market access, and stronger supply-chain resilience, and the elimination of tariffs is expected to further accelerate this growth. As India and Australia continue to strengthen their economic ties, the ECTA is expected to play a major role in promoting trade and economic cooperation between the two countries.
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