India, Australia interim trade agreement comes into effect next week

India will get duty-free access to more than 6,300 sectors, helping its companies in textiles, agricultural products, leather

An interim trade deal between India and Australia will come into force from December 29, said the Central Board of Indirect Taxes and Customs (CBIC) in a notification.

The notification comes a month after Australia’s Parliament ratified the Economic Cooperation and Trade Agreement (ECTA).

Under the deal, Canberra will provide India duty-free access to more than 6,300 sectors on the day the agreement comes into force. India, for its part, will do away with customs duties on 40 per cent of products immediately and on 70.3 per cent of tariff lines over 10 years.

Major labour-intensive sectors in India that