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 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 further strengthen their economic ties.
According to Minister Goyal, 100% of Australian tariff lines will be zero-duty for Indian exports from January 1, 2026. This means that Indian exporters 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 benefit a wide range of Indian industries, including textiles, pharmaceuticals, and engineering goods.
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. Minister Goyal stated that the agreement has been a “game-changer” for Indian exports, and the latest development will further enhance the country’s trade prospects.
The elimination of tariffs on Indian exports is expected to have a significant impact on India’s trade balance with Australia. India’s exports to Australia have been growing steadily over the years, and the latest move is expected to accelerate this growth. Indian exporters will now be able to compete more effectively with their Australian counterparts, which is expected to lead to an increase in India’s market share in Australia.
The India-Australia ECTA has been instrumental in promoting trade between the two countries. The agreement has provided Indian exporters with preferential access to the Australian market, which has helped to increase India’s exports to the country. The agreement has also facilitated the growth of Australian investments in India, which has helped to promote economic cooperation between the two countries.
The elimination of tariffs on Indian exports is also expected to have a positive impact on the Indian economy. The move is expected to lead to an increase in employment opportunities in the country, particularly in the export-oriented sectors. The growth in exports is also expected to contribute to the country’s economic growth, which is expected to have a positive impact on the overall economy.
Minister Goyal’s announcement has been welcomed by Indian exporters, who have been demanding the elimination of tariffs on their exports to Australia. The move is expected to make Indian products more competitive in the Australian market, which is expected to lead to an increase in exports. The Indian government has been working closely with Australian authorities to promote trade between the two countries, and the latest development is expected to further strengthen their economic ties.
In conclusion, the elimination of tariffs on Indian exports to Australia is a significant development that is expected to boost India’s exports. The move is part of the India-Australia ECTA, which has been instrumental in promoting trade between the two countries. The agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, and the latest development is expected to further enhance India’s trade prospects. Indian exporters will now be able to compete more effectively with their Australian counterparts, which is expected to lead to an increase in India’s market share in Australia.
As the Indian economy continues to grow, the country’s trade ties with other countries are expected to play a crucial role in promoting economic cooperation and development. The India-Australia ECTA is a significant agreement that has the potential to promote trade and investment between the two countries. The elimination of tariffs on Indian exports is a major step forward in this direction, and it is expected to have a positive impact on the Indian economy.
The Indian government has been working closely with other countries to promote trade and investment, and the latest development is expected to further strengthen the country’s trade ties with Australia. The move is also expected to have a positive impact on the global economy, as it will promote trade and economic cooperation between two major economies.
In the coming years, the India-Australia ECTA is expected to play a crucial role in promoting trade and investment between the two countries. The agreement has the potential to promote economic cooperation and development, and it is expected to have a positive impact on the Indian economy. As the Indian economy continues to grow, the country’s trade ties with other countries are expected to play a crucial role in promoting economic cooperation and development.
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