- An economic cooperation and trade agreement has been signed between India and Australia. Under this agreement, Australia will be providing duty-free access for over 95 percent of Indian goods like leather, textiles, sports products, and jewellery in its market.
- Australian Minister for Trade, Tourism and Investment Dan Tehan and Piyush Goyal, Commerce and Industry Minister inked the India-Australia Economic Cooperation and Trade Agreement via a virtual ceremony.
- Indian Prime Minister Narendra Modi and Australian Prime Minister Scott Morrison were also present during the signing of this agreement.
- This newly signed agreement will help to take the bilateral trade between both countries to USD 45-50 billion from USD 27 billion in the next five years.
Tags:
Economics
