Federal Trade and Industry Minister Piyush Goyal said on Thursday that the Indo-Australia Economic Cooperation and Trade Agreement (ECTA) will create around 10,000 jobs over the next four to five years. Goyal told: Indian students get a work visa to work in Australia. A newly signed trade deal with Australia is expected to boost bilateral trade from the existing $27 billion to around $45 billion to $50 billion over the next five years, and the government has announced that India will continue to grow in the next four to five years. expected to create 1 million jobs.
“After 10 years, we are finally able to conclude a free trade agreement with a developed country. It is also an important milestone in our journey as the Indian industry is poised to compete with the rest of the world from a position of strength and is more confident than ever. He also said India exported a record US$418 billion this year. “Quality conscious, pricing is very competitive and we are expanding our reach around the world. India’s exports this year are $418 billion, the highest in India’s history. , shows that we are poised to face the world from a strong position,” said Goyal.
The two countries signed the Indo-Australia Economic Cooperation and Trade Agreement (ECTA) on April 2nd. ECTA is India’s first trade agreement with a developed country in over a decade and provides an institutional mechanism to improve trade between the two countries. The Federal Trade Minister further said a trade deal with Australia would open up new avenues for India. “A trade deal with Australia will help us open the door to developed countries and enter new markets,” said Goyal. He said the deal came a decade later and was India’s first free trade deal with a developed country.
- 10 lakh employment will be created by the Indus ECTA over the following four to five years
- Check all news and articles from the latest Business news updates.