What the new free trade deal with India means for Australia

A huge increase in business between India and Australia is expected over the next decade under a new trade agreement signed with the world’s fastest-growing economy over the weekend.

As Australia looks to reduce its reliance on trade with China, Prime Minister Scott Morrison has outlined plans to triple exports to India by 2035, with restrictions lifted on key exports like coal and education.

Mr Morrison said the deal, which still needs approval from the World Trade Organisation and Australian Parliament, could deliver a $14.8 billion annual boost in revenue for Australian exporters.

But experts said although the deal would strengthen trade and diplomatic relations with India, it was too small to make up for the devastating trade sanctions imposed on Australia by China.