India-Australia ECTA fuels 86% export utilisation: Australian Diplomat

The India-Australia Economic Cooperation and Trade Agreement (ECTA) has driven an impressive 86 percent utilization rate for Indian exports, creating a thriving trade ecosystem that positions India to leverage Australia's resources for global supply chain leadership, said Zoe Woodlee, First Secretary Economic Counsellor and Acting Deputy Consul General at the Australian Consulate-General in Mumbai.

- TDG NETWORK

Speaking during a panel discussion at the CII Global Trade Scenario National Summit in Mumbai, Woodlee praised the ECTA, effective since December 2022, for enabling Indian businesses to access preferential tariffs on Australian exports like lithium and rare earths, vital for India's renewable energy and electric vehicle sectors.

She also highlighted India’s trajectory as the world’s fastest-growing economy, poised to become the third largest by 2030, and Australia’s commitment to its growth.