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Australia trade pact completes two years; India exports up 14% FY24
The New Indian Express Mysuru
|December 30, 2024
THE India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), which completed two years on Sunday, has helped India increase its exports by 14% to the Indo-pacific nation in FY24.
However, it is still lower than exports in 2021-22.
A press statement by the Ministry of Commerce says since the signing of ECTA, bilateral merchandise trade has more than doubled, surging from $12.2 billion in 2020-21 to $26 billion in 2022-23. Total trade, however, moderated in the year 2023-24 to $24 billion in 2023-24, with India's exports to Australia growing by 14%.
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