Australian parliament passes Free Trade Agreement with India
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The Australia-India Economic Cooperation and Trade Agreement (ECTA) was signed on April 2.
According to the Australian government, the agreement will secure Australia’s foothold in the world’s fastest growing large economy and enable Australian businesses to unlock or expand their operations in a market of nearly one and a half billion consumers.
Commerce and Industry Minister Piyush Goyal had earlier stated that the agreement would help in taking bilateral trade from $27.5 billion at present to $45-50 billion in the next five years.