CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)
Jhansi Castle, 4th floor, 7-Cooperage Road, Mumbai - 400 001. India.
Tel: +91-22-22021288, 22021330 Fax: +91-22-22026684.
email : info@chemexcil.in Web : https://chemexcil.in
EPC/LIC/INDIA-AUS 29th Nov 2022
ALL THE MEMBERS OF THE COUNCIL
Australia Ratifies "Economic Cooperation and Trade Agreement (ECTA)" with India
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Dear Members,
You might be aware that India- Australia “Economic Cooperation and Trade Agreement (ECTA)” was signed on 2 April 2022 and was awaiting ratification by Australian Parliament.
We are glad to inform you that India- Australia ECTA has been ratified by the Australian parliament on 22nd Nov 2022. Following the approval, the India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) would now become operational on a mutually agreed date.
ECTA will hopefully be implemented soon which will also provide substantial market access to Indian goods exported to Australia (including chemicals).
Under the India-Australia ECTA, duties on 100 percent tariff lines will be eliminated by Australia, covering 6,000 broad sectors. Meanwhile, India’s tariffs on 90 percent of Australian goods exports, including meat, wool, cotton, seafood, nuts, and avocados, will be removed. From day one, Australia will offer zero-duty access to India for almost 96.4 percent of exports by value. Presently, many of these products have a 4-5 percent customs duty imposed by Australia.
Complete details of India-Australia ECTA are available on below link for reference:
https://commerce.gov.in/international-trade/trade-agreements/ind-aus-ecta/
Members are requested to take note of the same. Further updates will also be shared, in due course.
Feed-backs, if any, may also be sent to the council on e-mail ids:- dg@chemexcil.in and pw@chemexcil.in, rd.ahd@chemexcil.in & robengaluru@chemexcil.in for records.
Thanking You,
Yours faithfully,
Deepak Gupta
Acting Executive Director
CHEMEXCIL
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