Australia Unveils $16mn Outlay To Strengthen Trade Ties With India
Australian PM Anthony Albanese unveiled a new economic roadmap to bolster trade ties with India by launching the Australia- India Trade and Investment Accelerator Investment Fund (TIAF) with an investment of $16mn .
Key Sectors Identified as ” Superhighways of the Growth ”
o Clean Energy
o Education and Skills
o Agribusiness
o Tourism
There was a Interim Trade Deal between India and Australia by the name of Economic Cooperation and Trade Agreement (ECTA) from which Australian exporters saved around $2 billion in Tariff by the end of December 2024 , it was came into effect on Dec 29, 2022 . ECTA Made over 85% of Australian goods exported to India tariff-free (rising to 90% by 2026) and Made 96% of Indian imports tariff-free (rising to 100% by 2026).
Key Facts About Australia
President – Anthony Albanese
Capital – Canberra
Currency – Australian Dollar