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India and Australia marked the third anniversary of their Economic Cooperation and Trade Agreement (ECTA), showing a significant rise in trade between the two nations.
The trade deal, which started three years ago, led to an 8 per cent growth in Indian exports to Australia during the 2024-25 financial year. This growth helped improve the overall trade balance for India. A major change is also expected to take place from January 1, 2026, as 100 per cent of Australian tariff lines will become zero-duty for Indian exports. This means Indian goods can enter Australia without extra taxes, creating new chances for sectors that employ many workers. Union Minister of Commerce and Industry Piyush Goyal, on Monday, shared the details on X. He stated that the agreement "translated intent into impact" over the last three years. "Over the past three years, the Agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, benefiting Indian exporters, MSMEs, farmers, and workers alike," he said. Goyal noted that the trade agreement brought strong gains to many different industries. These included manufacturing, chemicals, textiles, plastics, and pharmaceuticals. Petroleum products and the gems and jewellery sector also saw a rise in business. Specifically, exports for gems and jewellery increased by 16 per cent between April and November 2025. Agricultural products from India have also found more buyers in Australia. There was broad growth in the sale of fruits, vegetables, marine products, and spices. Coffee exports showed especially high growth during this period. To make trading easier, both countries signed a Mutual Recognition Arrangement for organic products. This step allows for smoother trade and reduces the costs that exporters have to pay to follow rules. "As Comprehensive Economic Cooperation Agreement (CECA) negotiations advance, Ind-Aus ECTA continues to anchor India's economic engagement in the Indo-Pacific, aligned with Make in India and the vision of Viksit Bharat 2047. Together, India and Australia are building a future of shared prosperity and trusted trade," Goyal noted. (ANI)
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