India?Australia Economic Cooperation and Trade Agreement completes four years, has strengthened bilateral economic engagement

The India–Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) has completed four years since its signing, marking an important milestone in the evolving economic partnership between India and Australia. Since its signing on 2 April 2022, 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.

Over the past four years, the Agreement has continued to strengthen bilateral economic engagement, with both sides benefiting from 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. During 2024–25, total bilateral trade stood at USD 24.1 billion, while India’s exports to Australia recorded an 8% growth over the previous year. In FY 2025–26 (up to February), India’s total trade with Australia stood at USD 19.3 billion.

Under the India–Australia ECTA, India granted preferential market access on 70.3% of its tariff lines, covering 90.6% of trade value, while Australia granted preferential market access on 100% of its tariff lines, corresponding to 100% of imports from India. Of this, 98.3% of tariff lines became duty-free immediately upon implementation, while the remaining 1.7% (113 tariff lines) are being phased out over five years. From 1 January 2026, all Indian exports are eligible for zero-duty market access into Australia.