A year of Australia-India FTA: Great start but lots to do

ECTA provides the framework for long-term growth in our trade. Ninety-six per cent of Indian goods now enter Australia completely tariff-free. That will rise to 100 per cent by 2026

December 29, 2023, marked the first anniversary of the Australia-India Economic Cooperation and Trade Agreement, or ECTA. ECTA means “unity” in Hindi. That is about as good a word as any to describe flourishing Australia-India ties, underpinned by dramatic growth in our economic relationship.

Australia and India’s two-way goods trade has grown by nearly 60 per cent over the last five years. Last year we shipped more than Rs 2 trillion worth of goods between our countries. India has become Australia’s fourth largest export destination. Australia is now India’s 10th largest export market.

ECTA provides the framework for long-term growth