Big Boost To IT Sector As Australia Clears Landmark Trade Deal With India

The Australian Parliament on Tuesday cleared the free trade agreement (FTA) with India, paving the way for strong bilateral trade between the two countries. India and Australia signed an interim free trade deal—Economic Cooperation and Trade Agreement (ECTA) in April this year. Today, Australian PM Anthony Albanese in a tweet said that the free trade agreement with India has passed through parliament. Union Minister Piyush Goyal called it a landmark moment for Australia and India and congratulated the Prime Ministers of both countries for achieving this significant milestone today. For the first time in Australia’s history, he said, they are giving 100 percent tariff lines with most lines on "entry into force" and 113 lines within a period of 5 years.