Australia-India Free Trade Agreement all ows 96.4% of Exports to be Duty-Free

FDT Bureau

Image credit: Modern Woodwork (for representational purpose)

India and Australia will be soon implementing the free trade agreement on a mutually agreed date as the Australian Parliament has approved the pact between the two countries. Upon ratification by the Australian parliament, the India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) will reportedly enter into force 30 days (or another mutually agreed time) after the respective parties have confirmed in writing that they have completed their domestic requirements. Once implemented, the agreement will provide duty-free access to the Australian market for over 6,000 broad sectors of India including furniture. Under the pact, Australia will be offering zero-duty access to India for about 96.4 per cent of exports (by value) from day one.