India-Australia ECTA Strengthens Trade Ties
ECONOMY & POLICY

India-Australia ECTA Strengthens Trade Ties

The India-Australia Economic Cooperation and Trade Agreement (ECTA) marks its third anniversary, solidifying economic ties between both nations. Since its signing on April 2, 2022, the agreement has significantly boosted trade, industry, and employment. 

In FY 2023-24, total bilateral trade reached USD 24 billion, reflecting a 11 per cent growth in India's exports to Australia. The positive momentum continues, with exports rising 4.1 per cent from April 2024 to February 2025 compared to the previous fiscal period. 

The ECTA has expanded trade across multiple sectors, including textiles, pharmaceuticals, chemicals, and agriculture. New export categories such as Calcined Petroleum Coke, Diesel Generators, and Air Liquefaction Machinery highlight emerging trade opportunities. Additionally, electronics and engineering sectors present promising export potential for further growth. 

On the import side, key raw materials like metalliferous ores, cotton, and wood products have helped strengthen India’s industrial base, reinforcing the mutually beneficial trade relationship. 

As the ECTA enters its fourth year, India and Australia reaffirm their commitment to deepening economic collaboration, fostering industrial innovation, and driving global trade resilience.   

The India-Australia Economic Cooperation and Trade Agreement (ECTA) marks its third anniversary, solidifying economic ties between both nations. Since its signing on April 2, 2022, the agreement has significantly boosted trade, industry, and employment. In FY 2023-24, total bilateral trade reached USD 24 billion, reflecting a 11 per cent growth in India's exports to Australia. The positive momentum continues, with exports rising 4.1 per cent from April 2024 to February 2025 compared to the previous fiscal period. The ECTA has expanded trade across multiple sectors, including textiles, pharmaceuticals, chemicals, and agriculture. New export categories such as Calcined Petroleum Coke, Diesel Generators, and Air Liquefaction Machinery highlight emerging trade opportunities. Additionally, electronics and engineering sectors present promising export potential for further growth. On the import side, key raw materials like metalliferous ores, cotton, and wood products have helped strengthen India’s industrial base, reinforcing the mutually beneficial trade relationship. As the ECTA enters its fourth year, India and Australia reaffirm their commitment to deepening economic collaboration, fostering industrial innovation, and driving global trade resilience.   

Next Story
Real Estate

Varun Malik Joins ANAROCK as MD, Head of Capital Markets, APAC

ANAROCK Capital has appointed Varun Malik as Managing Director, Head of Capital Markets (APAC), marking a strategic move to expand its presence across Asia-Pacific. Based in Singapore, Malik will drive ANAROCK’s capital markets initiatives in the region.A real estate finance veteran, Malik brings over 18 years of experience in structuring complex cross-border transactions across South-East Asia and Australia. He has led debt and equity deals for REITs, fund managers, and developers, delivering strong returns and driving investor value.“We will redefine real estate capital solutions across ..

Next Story
Real Estate

Patra Chawl lottery held, 663 families allotted homes

Mumbai's Siddharth Nagar (Patra Chawl) Co-operative Housing Society members in Goregaon (West) saw their 15-year wait come to a close as MHADA conducted a successful computerised lottery for 663 eligible members under its redevelopment scheme.The Mumbai Housing and Area Development Board conducted the draw using the RAT (Randomised Allotment of Tenement) system at Sardar Vallabhbhai Patel Hall. The lottery, overseen by Mr. Milind Borikar, Chief Officer of Mumbai Board, ensured transparency by digitally allotting each member a building, wing, and floor.The project, located on Plot R-9, received..

Next Story
Infrastructure Transport

BLR Airport crosses 41 million passengers, 500,000 MT cargo

Kempegowda International Airport, Bengaluru (BLR Airport), has recorded key operational milestones in FY 2024-25, crossing 41.88 million passengers and handling 502,480 metric tonnes of cargo. This marks a year-on-year passenger growth of 11.6 per cent and a 14 per cent rise in cargo volumes.Domestic footfall reached 36.05 million, up 10 per cent, while international traffic saw a robust 25 per cent jump to 5.83 million, aided by Indigo’s global expansion and added frequencies by international carriers. BLR Airport now connects to 76 domestic and 33 international destinations, with Hanoi set..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?