India to increase textile exports to Australia under FTA: AEPC

The Free Trade Agreement (FTA) is going to occur on December 29, 2022

December 28, 2022

Australia is the largest importer of garments in the southern hemisphere

India already imports about 5% of textiles to the country

India's ready-made garment exports to Australia have increased by 11.84% over the last 5 years

Exports to Australia would grow three times by 2025

Indian apparel exporters will get greater market access as a part of other customs duty advantages under the India-Australia Free Trade Agreement (FTA), according to Apparel Export Promotion Council (AEPC). 

The FTA is going to come into effect from December 29, 2022. According to experts, Australia is the largest importer of garments in the southern hemisphere. India already imports about 5% of textiles to the country. 

Experts said that India will have a duty advantage over other countries, within the India-Australia Economic Cooperation and Trade Agreement (ECTA) gets operationalised. Additionally, India’s ready-made garment exports to Australia have increased by 11.84% over the last 5 years. According to AEPC, exports to Australia would grow three times by 2025. 

Under the FTA, Indian exporters from across 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery will gain duty-free access to the Australian market. With the right policies and export strategies in play, both countries can witness a further boost in their bilateral trade. 


Source: The Hindu

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