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India's exports to Australia rise 64.4 per cent in Nov, trade doubles after ECTA: Commerce Ministry
December 30, 2024
|The Statesman
India's exports to Australia rose 64.4 per cent year-on-year to USD 643.7 million in November on account of healthy growth in sectors such as textiles, chemicals and agricultural products, data from the Ministry of Commerce & Industry said on Sunday.
The country's merchandise exports recorded a decline of 5.21 per cent year-on-year to USD 5.56 billion.
The Commerce Ministry released the data as India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) completes two years of remarkable success, driving mutual growth and showcasing the complementarity of both economies.
Since its signing, bilateral merchandise trade has more than doubled, surging from USD 12.2 billion in 2020-21 to USD 26 billion in 2022-23.
Total trade, however, moderated in the year 2023-24 to USD 24 billion in 2023-24, with India's exports to Australia growing by 14 per cent.
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