Login
The interim free trade agreement between India and Australia comes into force today, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market.
The agreement will help almost double the bilateral commerce to USD 45-50 billion in around five years, according to exporters and industry players.
The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
Australia will offer zero-duty access to India for about 96.4% of exports (by value) from day one, under the pact.
With the customs duty advantage, Indian apparel exporters will get greater market access in that country as compared to their competitors.
