Australia, India set for new round of trade talks
Synopsis
Australia India trade talks are set to resume, aiming for a Comprehensive Economic Cooperation Agreement. Discussions will build on the 2022 tariff‑reducing ECTA and cover goods, services, and investment, as bilateral trade hit over US$54 billion in fiscal 2024–25.
Australia India trade talks are restarting to expand a comprehensive trade deal. Bilateral trade reached US$54.4 billion, with strong growth in goods, services, and investment between the two nations.
Key Highlights
- Australia India trade talks set to resume, focusing on goods, services, and investment.
- Talks expand on 2022 ECTA that removed tariffs on most traded goods.
- Bilateral trade reached US$54.4 billion in fiscal 2024–25.
- Agricultural and industrial exports from Australia to India grew significantly.
Australia-India trade talks are set to resume in the coming weeks as officials from both countries work to advance a broader bilateral trade agreement. Canberra and New Delhi plan to move beyond the existing Economic Cooperation and Trade Agreement (ECTA) toward a full Comprehensive Economic Cooperation Agreement (CECA).
Trade officials said the renewed Australia-India trade talks will cover goods, services, and investment, with detailed discussions expected over multiple sessions.
Australia’s Trade Minister Don Farrell confirmed that the government aims to expand market access and deepen economic cooperation.
Building on ECTA Achievements
Under the 2022 ECTA, about 90% of Australian exports to India now enter duty-free, while all Indian exports to Australia face zero tariffs.
The agreement has helped boost bilateral trade and sector-specific growth, particularly in agriculture and industrial products.
Bilateral trade in goods and services reached approximately US$54.4 billion in fiscal 2024–25, with Australian exports valued at US$35 billion and imports from India at US$19.3 billion.
Australian exports include mineral fuels, ores, and agricultural products, while Indian exports mainly comprise engineering goods, textiles, and pharmaceuticals.
Sector Trends and Data
Australian agricultural exports to India grew about 88% in 2024–25 compared with 2022–23, reaching around US$3 billion. Industrial exports, excluding coal, more than doubled over the same period to over US$10 billion.
Services trade, including education and professional services, also expanded significantly, reflecting growing engagement between the two economies.
Officials noted that Australia-India trade talks for CECA will involve complex issues such as tariff schedules, regulatory alignment, and market access commitments.
Initial CECA negotiations began in 2011, paused in 2016, and were relaunched in 2021, leading to the current push for a broader agreement.
FAQs
Q1. What are Australia India trade talks about?
They are negotiations to expand a comprehensive bilateral trade agreement beyond the 2022 ECTA.
Q2. When will the Australia India trade talks resume?
Officials have confirmed talks are scheduled in the coming weeks.
Q3. What sectors will the trade talks cover?
Discussions will focus on goods, services, investment, agriculture, industrial products, and regulatory market access.
Q4. How much is current bilateral trade between Australia and India?
Bilateral trade reached approximately US$54.4 billion in fiscal 2024–25, with Australia exporting US$35 billion.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
