Anthony Albanese with India’s prime minister Narendra Modi. (AAP Image/Mick Tsikas)
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Changes to domestic laws in India will mean a new free trade deal with Australia will come into effect by the end of next month.
The Australia-India Economic Cooperation and Trade Agreement (ECTA) will commence from 29 December. It will see two tariff cuts made in quick succession, one as the agreement comes into effect and another from the new year.
The deal will mean tariffs on 85% of Australian exports to India will be eliminated and a separate category of local exports (5%) will have costs revised down.
Prime minister Anthony Albanese said in a statement that both Australia and India were building their partnership on economic and strategic fronts.
ABOUT THE AUTHOR
Melissa Coade is a senior journalist at The Mandarin.
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