Australia's new trade agreement with India will come into force on 29 December. The Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) will eliminate tariffs on 85% of Australia's exports to India.
High tariffs on a further 5% of goods will be phased down.
The trade deal gives Australian exporters preferential access in multiple sectors, including agriculture, mining and education. Almost all tariffs on food exports will be reduced or eliminated. The existing 150% tariff on premium wine will fall immediately to 75%.
Initial estimates are that AI-ECTA will save Australian exporters around
$2 billion per year in tariffs. Austrade advisers in India and Australia are helping exporters to understand the AI-ECTA changes and to navigate export pathways to India.