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Interim deal with Australia to boost business synergy
Apr 12, 2022

Goyal said a separate India and Australia investment agreement is possible, but the same will be negotiated by the Union finance ministry.
 
The recently signed interim free trade agreement between India and Australia may become the base for enhanced cooperation in investments and other strategic engagements such as rare-earth materials and uranium supply, besides immediately opening up an over ?6 lakh crore market for Indian automobiles, apparels, pharmaceuticals, furniture, toys and plastic goods, people aware of the development said.
 
Speaking about taking forward the interim but comprehensive India-Australia Economic Cooperation and Trade Agreement (ECTA), Australian trade, tourism and investment minister Dan Tehan said: 'It [the pact] will evolve over time… There are many opportunities that will spring out of this agreement.' Without elaborating on the specifics, he said ECTA may lead to enhanced 'geostrategic cooperation' between the two countries for a safer and more democratic Indo-Pacific region.
    
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