India and Australia have signed the Economic Cooperation and Trade Agreement (IndAus ECTA). As per the agreement, both countries will grant duty-free access to a large number of goods and relax norms to boost trade in services.
Piyush Goyal, Commerce and Industry Minister on Wednesday said that India and Australia should look at promoting bilateral trade to USD 100 billion by 2030 from the current level of around USD 27.5 billion. He also said that both the countries are already at an advanced stage of entering into an agreement for greater collaboration in the education sector.
Goyal further said that India and Australia are looking to provide dual degrees and sign mutual recognition agreements to promote services trade. Goyal said both countries are looking to increase collaboration in various areas such as education, research, startups, and Agri tech. The minister also sought investments from Australia in areas like infrastructure.
