India-Aus Economic Cooperation and Trade Agreement (Ind-Aus ECTA) to come into force on Dec 29
New Delhi/IBNS: The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) will come into force on December 29.
Indian exports will benefit from preferential zero-duty market access in Australia for 100 percent of its tariff lines, which will benefit India’s labour-intensive sectors such as gems and jewellery, textiles, leather, footwear, furniture, food, and agricultural products, engineering products, medical devices, and automobiles, Minister of State for Commerce and Industry Anupriya Patel said in reply to a parliamentary question today.
On the other hand, India has provided preferential access to Australia on over 70 percent of its tariff lines, which are primarily raw materials and intermediaries such as coal, mineral ores etc, which are required for our domestic manufacturing industry.
Moreover, Australia has also provided additional market access and mobility facility for Indian professionals including chefs and yoga teachers.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Congress questions Modi govt after Russia advances jet engine supply to Pakistan
Elon Musk faces backlash in India over post on British colonisation
Madhya Pradesh, Tamil Nadu, Kerala ban Coldrif cough syrup after toxic chemical found linked to child deaths
Barack and Michelle Obama celebrate 33 years of marriage with touching tributes and timeless memories
