Soon we can bite into an Australian apple as we sip on to their wine and get power from the thermal power plants that run on Australian coal. On the last working day of 2022, came to effect the India-Australia Economic Cooperation and Trade Agreement (ECTA). This allows India to export 98.3 per cent of its tariff lines at zero duty to Australia. The rest 1.7 per cent would also be made duty free over the next 5 years. Similarly, India is offering zero duty access to 90 per cent value of products from Australia.
