India-Australia Trade Surges Amidst Expanding Economic Ties

India's exports to Australia surged 64.4% to USD 643.7 million in November, driven by growth in textiles, chemicals, and agriculture. The Economic Cooperation and Trade Agreement (ECTA) has facilitated market access and employment. Discussions are ongoing to expand the pact into a Comprehensive Economic Cooperation Agreement (CECA).

India's exports to Australia witnessed a significant rise of 64.4% year-on-year, reaching USD 643.7 million in November, driven by robust growth in key sectors such as textiles, chemicals, and agricultural products, commerce ministry data reveals.

While India's overall merchandise exports declined by 5.21% year-on-year during April-November 2024-25, the interim Economic Cooperation and Trade Agreement (ECTA) implemented on December 29, 2022, has boosted market access for Indian exporters and expanded opportunities, stated Commerce and Industry Minister Piyush Goyal.

The commerce ministry highlighted notable sectoral growth and a diversification in export lines due to the agreement. Bilateral merchandise trade doubled from USD 12.2 billion in 2020-21 to USD 26 billion in 2022-23, and ongoing CECA negotiations aim to further enhance trade relations between India and Australia.

(With inputs from agencies.)