India-Australia interim trade deal kicks in today after eight-month wait

The implementation of the interim trade pact, also known as Economic Cooperation and Trade Agreement (ECTA) has the potential to double the bilateral trade between the two countries to $50 billion

Consignment of goods such as jewellery and engineering items are set to be flagged off on Thursday as the India-Australia interim trade deal goes live after an eight-month wait.

The interim pact, also known as Economic Cooperation and Trade Agreement (ECTA), has the potential to double bilateral trade to $50 billion in half a decade. The trade deal was signed on April 2.

India is set to benefit from the preferential market access provided by Australia on 100 per cent of its tariff lines – 98.3 per cent tariff lines from December 29. The rest will be in a phased