Big boost to IT sector as Australia clears landmark trade deal with India

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NEW DELHI: In a landmark agreement, the Australian parliament on Tuesday cleared a free trade agreement (FTA) with India.
Briefing the media about the FTA, commerce and industry minister Piyush Goyal said: “It is a landmark moment for Australia & India, would like to congratulate the Prime Ministers of both countries for achieving this significant milestone today.”
These are 2 democracies with shared interests on the world stage, he added.
Goyal also highlighted that this is the first time in Australia’s history, where they are giving 100 per cent tariff lines with most lines on entry into force and 113 lines within a period of 5 years.
The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needed ratification by the Australian parliament before its implementation. In India, such pacts are approved by the Union Cabinet.
Earlier in the day, Goyal expressed his…

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