Australian Parliament okays FTA with India; to help double bilateral trade

The agreement, once implemented, will provide duty-free access to the Australian market for over 6,000 broad sectors of India, including textiles, leather, furniture, jewellery and machinery

The Australian Parliament on Tuesday approved the free trade agreement inked with India in April, paving the way for the rollout of the pact on a mutually agreed date -- a move which would help in almost doubling the two-way commerce to USD 45-50 billion in about five years.

The pact is expected to come into force from January 2023.

The agreement, which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors including textiles, leather, furniture, jewellery and machinery in the Australian market.

Labour-intensive sectors which would gain immensely include textiles and apparel, few agricultural