India-Australia Trade Talks: A Race Against Time

India is pushing to expedite free trade agreement talks with Australia before the latter's elections next year. The aim is to resolve sensitive issues and expand the existing Economic Cooperation and Trade Agreement. Concurrently, India is reviewing its ASEAN trade agreements to address tariff asymmetries.

India is accelerating its free trade agreement negotiations with Australia, aiming to finalize discussions before the country's upcoming elections. A senior government official, Rajesh Agrawal, stated that time is of the essence to bridge differences on sensitive matters.

The eleventh round of negotiations is anticipated next month, focusing on broadening the India-Australia Economic Cooperation and Trade Agreement through a comprehensive economic cooperation agreement. The current trade pact, effective since December 2022, has already facilitated significant business engagement.

Moreover, India is actively revisiting its ASEAN trade agreements to address ongoing tariff disparities, seeking a balanced approach that considers the economic development levels of the member countries.

(With inputs from agencies.)