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 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 duties 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.
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 the signing of the agreement, bilateral trade between India and Australia has increased significantly, with India’s exports to Australia growing by over 20%.
Minister Goyal stated that the agreement has been a “game-changer” for India’s exports, and the elimination of tariffs on all Indian exports to Australia will further boost trade between the two countries. He also highlighted the importance of the agreement in promoting economic cooperation and trade between India and Australia, and expressed his confidence that the bilateral trade relationship will continue to grow in the coming years.
The elimination of tariffs on all Indian exports to Australia is expected to have a significant impact on a wide range of Indian industries. For example, the textiles industry, which is one of India’s largest export earners, is expected to benefit significantly from the move. Indian textile exporters will no longer have to pay duties on their exports to Australia, making their products more competitive in the Australian market.
Similarly, the pharmaceuticals industry, which is another significant export earner for India, is also expected to benefit from the move. Indian pharmaceutical companies will be able to export their products to Australia without having to pay duties, making their products more competitive in the Australian market.
The agriculture sector is also expected to benefit from the elimination of tariffs on all Indian exports to Australia. Indian farmers will be able to export their products to Australia without having to pay duties, making their products more competitive in the Australian market. This is expected to boost India’s agricultural exports to Australia, and provide a significant boost to the Indian economy.
In addition to the benefits for Indian exporters, the elimination of tariffs on all Indian exports to Australia is also expected to benefit Australian consumers. With Indian products becoming more competitive in the Australian market, Australian consumers will have access to a wider range of products at competitive prices. This is expected to boost consumer spending in Australia, and provide a significant boost to the Australian economy.
Overall, the elimination of tariffs on all Indian exports to Australia is a significant development that is expected to boost trade between the two countries. The move is expected to benefit a wide range of Indian industries, including textiles, pharmaceuticals, and agriculture, and provide a significant boost to the Indian 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 expected to take the bilateral trade relationship to the next level.
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 trade between the two countries. The move is expected to benefit a wide range of Indian industries, and provide a significant boost to the Indian economy. As the bilateral trade relationship between India and Australia continues to grow, it is expected that the elimination of tariffs on all Indian exports to Australia will play a significant role in promoting economic cooperation and trade between the two countries.
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