Four years of the India–Australia Economic Cooperation and Trade Agreement have been completed on 2 April

Four years of the India–Australia Economic Cooperation and Trade Agreement have been completed on 2 April

¨     Four years of the India–Australia Economic Cooperation and Trade Agreement have been completed on 2 April.

¨     This marks a significant milestone in strengthening bilateral economic engagement between the two countries.

¨     The agreement has been credited with enhancing trade flows, fostering industry linkages, and creating new opportunities for businesses, entrepreneurs, and employment generation.

¨     Bilateral trade between India and Australia has reached 24.1 billion US dollars in 2024–25, reflecting steady growth under the agreement framework.

¨     An increase of 8% in India’s exports to Australia has been recorded over the previous year, indicating improved market access and competitiveness of Indian goods.

¨     India’s total trade with Australia has been reported at 19.3 billion US dollars in FY 2025–26 up to February, showing continued economic momentum.

¨     Under the agreement, 100% tariff line access has been granted by Australia to India, ensuring comprehensive coverage for Indian exports.

¨     Zero-duty market access has been made available for all Indian exports to Australia from the beginning of this year, significantly reducing trade barriers.

¨     Preferential market access has been granted by India on around 70% of its tariff lines, covering nearly 90% of total trade value.

¨     The agreement has contributed to deeper economic integration by reducing tariffs, improving market accessibility, and encouraging bilateral investments.