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ECTA: The dawn of a new era in Indo-Aus relations

Indian exports and manufacturing will be equally benefited with the duty-free import of raw materials from Australia for their competitiveness

Topics
India Australia | Indian exports | India trade

Ajay Sahai 



Ajay Sahai

India and Australia are the two most vibrant democracies in the world. Our mutual understanding, trust and common interest underpin our strategic relationship. The two countries have signed the Economic Trade and Cooperation Agreement (ECTA), which unlocks a new era of trade between them. The ECTA originates from the Hindi word “ekta”, which means unity. The trade agreement signifies unity for mutual benefits for both the countries, resulting in a win-win situation for both partners. India’s exports to Australia grew by over 100 per cent to reach $6.9 billion in 2021 while imports also reached $15.1 billion with import growth exceeding 100 per cent. The ECTA thus provides a take-off opportunity on an already built solid base.

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First Published: Wed, November 23 2022. 22:40 IST

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