The Economic Cooperation and Trade Agreement (ECTA) between Australia and India came into effect on Dec. 29, 2022 with an aim to diversify trade and businesses between the two nations.
As per the agreement 96 percent Indian goods will ever Australia tax free while 85 percent Australian good can enter India. As a result, bilateral trade will increase from US$31billion to US $50 million and over 10,00,000 jobs will be created in India.
Glad that IndAus ECTA is entering into force today. It is a watershed moment for our Comprehensive Strategic Partnership. It will unlock the enormous potential of our trade and economic ties and boost businesses on both sides. Look forward to welcoming you in India soon. @AlboMP https://t.co/aBGKvKCtZq
— Narendra Modi (@narendramodi) December 29, 2022
