The Australia-India Economic Cooperation and Trade Agreement (ECTA) entered into force on 29 December 2022. This timing meant that two tariff reductions have already taken place: the first on entry and the second on 1 January 2023.
96% of Indian goods can be imported and 85% of Australian goods can be exported to India duty free. Tariffs on additional 5% of Australian goods will be eliminated over the next 10 years.
These benefits are not automatically applied. Australian businesses exporting to India need to apply for an Australia-India ECTA Certificate of Origin. the South Australian Business Chamber’s members have been calling to find out more and our International Services team has already issued over 10 export certificates.
The ECTA (the Hindi word Ekta means unity and reflects the bond between Australia and India) provides Australian businesses with an opportunity to commence or grow their operations in a lucrative market of almost 1.4 billion people.
As the world’s fastest growing large economy, India will require many of Australia’s goods and services to continue expanding over the next two decades. Agriculture, minerals, education and skills training and healthcare are seen as especially important.
You can visit the Australian Government’s Free Trade Agreement Portal to check tariffs on specific products and services for both exports to and imports from India. And you can also refer to the Government’s step-by-step business guide to take advantage of preferential tariff treatment under ECTA. It
To speak to the South Australian Business Chamber about export document certification to India or any of our other international services, please contact Maggie Li, Manager, International Services, on 08 8300 0000 or visit our website.
