India-Australia free trade agreement in effect from December 29
ECONOMY & POLICY

India-Australia free trade agreement in effect from December 29

A trade agreement between India and Australia will go into effect on December 29, nearly nine months after the two countries signed it. The agreement has been approved by the President of India. The two countries signed an interim free trade agreement in April called the Economic Cooperation and Trade Agreement (ECTA), which the Australian Parliament ratified last week.

As part of the agreement, Australia agreed to eliminate customs duties on 98.3 per cent of traded goods and 100 per cent of tariff lines over a five-year period. India will eliminate customs duties on 40 per cent of products immediately and on 70 per cent of tariff lines over a 10-year period.

Also read:
Rajasthan govt requests Chhattisgarh to make its coal blocks operational
Kirit Parikh panel suggests floor and ceiling price for gas

A trade agreement between India and Australia will go into effect on December 29, nearly nine months after the two countries signed it. The agreement has been approved by the President of India. The two countries signed an interim free trade agreement in April called the Economic Cooperation and Trade Agreement (ECTA), which the Australian Parliament ratified last week. As part of the agreement, Australia agreed to eliminate customs duties on 98.3 per cent of traded goods and 100 per cent of tariff lines over a five-year period. India will eliminate customs duties on 40 per cent of products immediately and on 70 per cent of tariff lines over a 10-year period. Also read: Rajasthan govt requests Chhattisgarh to make its coal blocks operational Kirit Parikh panel suggests floor and ceiling price for gas

Next Story
Real Estate

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie.   Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Next Story
Equipment

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision.  Hussain S..

Next Story
Infrastructure Energy

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?