India–Australia Trade Pact Completes Four Years; Trade Reaches USD 24.1 Billion in 2024–25: Govt

The India–Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) marked its fourth anniversary on Thursday, underscoring a significant phase in the deepening economic partnership between the two countries. Signed on April 2, 2022, the Ministry of Commerce and Industry said the agreement has played a pivotal role in enhancing trade flows, fostering industry linkages, and creating new opportunities for businesses, entrepreneurs, and employment in both countries.

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Exports to Australia More Than Double in Four Years

Over the past four years, the pact has facilitated enhanced bilateral engagement through improved market access and reduced trade barriers. India’s exports to Australia have more than doubled, rising from USD 4 billion in FY 2020–21 to USD 8.5 billion in FY 2024–25, according to the Ministry. During the same period, total bilateral trade reached USD 24.1 billion, with Indian exports to Australia registering an 8 per cent growth over the previous year. In the ongoing fiscal year 2025–26 (up to February), India’s total trade with Australia stood at USD 19.3 billion.

Zero-Duty Access for Indian Goods from 2026

Under the India–Australia ECTA, India extended preferential market access on 70.3 per cent of its tariff lines, covering 90.6 per cent of trade value. In contrast, Australia granted preferential access on 100 per cent of its tariff lines, accounting for all imports from India. Notably, 98.3 per cent of these tariff lines became duty-free immediately upon implementation, while the remaining 1.7 per cent (113 tariff lines) are being phased out over five years. From January 1, 2026, all Indian exports are set to enjoy zero-duty access in the Australian market.