Union Commerce and Industry Minister Piyush Goyal announced that all Australian tariff lines will have zero duties for Indian exports starting 1st January 2026, emphasizing that the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) is vital for India’s involvement in the Indo-Pacific region.

"With the progression of Comprehensive Economic Cooperation Agreement (CECA) discussions, the Ind-Aus ECTA remains a cornerstone of India's economic involvement in the Indo-Pacific, in line with Make in India and the vision of Viksit Bharat 2047," the Union Minister noted in a post on X.

The Minister emphasized consistent enhancement in the trade balance with Australia following the signing of the Ind-Aus ECTA in 2022.

On the third anniversary of the trade agreement with Australia, Goyal stated that the trade pact has turned intention into effect.

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The Minister highlighted that in the last three years, the Ind-Aus ECTA has provided consistent export growth, enhanced market access, and improved supply-chain resilience, benefiting Indian exporters, MSMEs, farmers, and workers.

According to official statistics, India’s exports to Australia increased by 8 percent in the fiscal year 2024-25, thereby enhancing India’s trade balance.

The Minister indicated that significant improvements have been observed in manufacturing, chemicals, textiles, plastics, pharmaceuticals, petroleum goods, and gems & jewellery.

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"Agri-exports showcased widespread growth, with significant rises in fruits & vegetables, marine products, spices, and remarkable growth in coffee," he stated.

The export of Gems & Jewellery is projected to have increased by 16 percent year-over-year during the April-November timeframe of 2025.

Importantly, a Mutual Recognition Arrangement (MRA) regarding organic products has been established between the two nations, representing a significant milestone that facilitates smooth trade and reduces compliance expenses for exporters.

In FY25, the bilateral merchandise trade between India and Australia reached US$24.1 billion, with India's exports experiencing a 14 percent increase in 2023-24 followed by an additional 8% rise in 2024-25.

 

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In November of this year, Piyush Goyal traveled to Australia for bilateral talks with his counterpart. In the meeting, the two Ministers assessed the advancements achieved in the CECA negotiations and explored avenues to enhance trade and economic collaborations between the two countries.