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Trade pact with Australia anchors India’s economic engagement in Indo-Pacific: Piyush Goyal
India’s total exports of goods and services surged to a record high of $418.91 billion during April–September 2025 of the current financial year.
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IANS - Mon, 29, Dec 2025
- 03:23 EST
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Union Minister Piyush Goyal addresses a press conference at Vanijya Bhawan on the India-New Zealand Free Trade Agreement, New Delhi, Monday, December 22, 2025. / IANS/Premnath Pandey
Commerce and Industry Minister Piyush Goyal on Dec. 29 said that as the Comprehensive Economic Cooperation Agreement (CECA) negotiations advance with other nations, India-Australia trade pact continues to anchor the country’s economic engagement in the Indo-Pacific, aligned with ‘Make in India’ and the vision of 'Viksit Bharat 2047’.
From Jan. 1, 2026, 100 per cent Australian tariff lines will be zero-duty for Indian exports, unlocking fresh opportunities for labour-intensive sectors, Goyal informed.
On the third anniversary of the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), the minister said that we are celebrating a partnership that has translated intent into impact.
“Together, India and Australia are building a future of shared prosperity and trusted trade,” Goyal posted on X social media platform.
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, according to Goyal.
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India's exports to Australia grew by 8 per cent in FY 2024-25, improving India's trade balance. Strong gains were witnessed across manufacturing, chemicals, textiles, plastics, pharmaceuticals, petroleum products, and gems and jewellery.
“Agri-exports recorded broad-based growth, with sharp increases in fruits and vegetables, marine products, spices, and exceptional growth in coffee. Gems & Jewellery exports rose 16 per cent in April–November 2025,” said the minister.
Mutual Recognition Arrangement (MRA) on organic products was signed, marking a major milestone, enabling seamless trade and lowering compliance costs for exporters.
Meanwhile, India and New Zealand have also concluded a comprehensive and long-awaited FTA, marking a major economic and strategic milestone. The FTA eliminates duty on 100 per cent of Indian exports, along with a $20 billion investment commitment over 15 years to strengthen long-term economic and strategic cooperation.
India’s total exports of goods and services surged to a record high of $418.91 billion during April–September 2025 of the current financial year to register a 5.86 per cent annual increase as the strong momentum of the previous financial year, that ended on March 31, continued into the new fiscal year.
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