Australia-India trade deal comes into force

Australian businesses now have greater access to one of the biggest markets in the world as the first part of a trade agreement between Australia and India kicks into gear.

SA wine producer Torbreck. Credit: Torbreckbarossa (Facebook)

Key Points

• Tarrifs on almost 90 per cent of Australian goods into India have been slashed to zero while taxes on other goods from baby formula to pharmaceuticals will be phased down within 6 years.
• Australia and India signed an Economic Co-operation and Trade Agreement.
• The deal is also seeking to address critical skill shortages with the Australian government offering Indian students who finish uni here, post-study work, with a bonus year for those who excel in STEM subjects.

It comes as the Federal government continues to pursue a trade breakthrough with China with the trade minister preparing for a trip to Beijing next year.

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