India-Australia Trade Flourishes Under Free Trade Agreement

India's exports to Australia increased by 4.4% in 2024-25 due to the India-Australia Economic Cooperation and Trade Agreement initiated in 2022. Total bilateral trade surged to USD 24 billion in 2023-24. The agreement benefits sectors like textiles, chemicals, and agriculture, with electronics and engineering promising future growth.

India's exports to Australia have surged by 4.4% year-on-year from April 2024 to February 2025. This growth is attributed to the robust India-Australia Economic Cooperation and Trade Agreement implemented in 2022, as confirmed by the commerce ministry on Wednesday.

The agreement, signed on April 2, 2022, has significantly bolstered bilateral trade, creating new business avenues and employment opportunities across both nations. Notably, the total trade between India and Australia soared to USD 24 billion in 2023-24, demonstrating a striking 14% growth from the previous year.

This upward trajectory persists in the current fiscal, with the pact enhancing multiple sectors such as textiles, pharmaceuticals, and agriculture. New export lines and the import of essential raw materials fortify India's industries, marking this agreement as a mutually beneficial alliance poised for continued growth.

(With inputs from agencies.)