AIBC welcomes historic Australia India CECA Agreement

The AI ECTA was signed today in a virtual ceremony by Australia’s Trade Minister Dan Tehan and India’s Minister of Commerce and Industry, Piyush Goyal. Australia’s Prime Minister Scott Morrison and India’s Prime Minister Narendra Modi witnessed the virtual ceremony.

The deal with India removes tariffs on more than 85 per cent of Australian goods exports to India, worth A$12.6 billion (US$9.4 billion), rising to almost 91 per cent over 10 years.

Tariffs will be scrapped on sheep meat, wool, copper, coal, alumina, fresh Australian rock lobster, and some critical minerals and non-ferrous metals to India. It will see 96 per cent of Indian goods imports enter Australia duty-free.

Welcoming the above signing of the AI ECTA Agreement, the National Chair of Australia India Business Council Limited (AIBC) Mr Jim Varghese AM said “Today is an historic day for the future of the trade and investment relationship between Australia and India. Congratulations to the Prime Minister and DFAT for the persistence and determination in helping execute the signing of the Australia India AI ECTA agreement."