100% Australian Tariff Lines To Be Zero-Duty For Indian Exports From Jan 1, Says Piyush Goyal

(MENAFN- KNN India) New Delhi, Dec 29 (KNN) Stating that 100% Australian tariff lines will be zero-duty for Indian exports from 1st January 2026, Union Commerce and Industry Minister Piyush Goyal on Monday said that India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) remains key to India's Indo-Pacific engagement.

"As Comprehensive Economic Cooperation Agreement (CECA) negotiations advance, Ind-Aus ECTA continues to anchor India's economic engagement in the Indo-Pacific, aligned with Make in India and the vision of Viksit Bharat 2047," the Union Minister said in a post on X.

The Minister highlighted steady improvement in trade balance with Australia after the Ind-Aus ECTA was signed in 2022.

On the third anniversary of the trade deal with Australia, Goyal said that the trade agreement has translated intent into impact.

The Minister noted that over the past three years, the Ind-Aus ECTA has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, benefiting Indian exporters, MSMEs, farmers, and workers alike.

As per the official data, India's exports to Australia grew by 8% in the financial year 2024-25 thus improving India's trade balance.

The Minister said that strong gains have been witnessed across manufacturing, chemicals, textiles, plastics, pharmaceuticals, petroleum products, and gems & jewellery.

"Agri-exports recorded broad-based growth, with sharp increases in fruits & vegetables, marine products, spices, and exceptional growth in coffee," he said.

Gems & Jewellery export is estimated to have grown 16% year-on-year in April-November period of 2025.

Notably, a Mutual Recognition Arrangement (MRA) on organic products has also been in place between the two countries and serves as a major milestone, enabling seamless trade and lowering compliance costs for exporters.

In FY25, bilateral merchandise trade between India and Australia stood at US$24.1 billion, with India's exports registering a growth of 14% in 2023-24 and a further 8% in 2024-25.

Piyush Goyal visited Australia in November this year to hold bilateral discussions with his counterpart. During the meeting, the two Ministers reviewed the progress made under the CECA negotiations and discussed pathways to elevate trade and economic partnerships between the two nations.

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