India-Australia trade deal: Wool & textile exports surge in 4 years

The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) went into place four years ago and has helped in the growth of the textile industry, with Australia granting preferential market access on *** per cent of its tariff lines to India and beginning this January, all Indian exports have been eligible for zero-duty market access into Australia.

On the other hand, India granted preferential market access on **.* per cent of its tariff lines, covering **.* per cent of trade. According to sourcing intelligence tool TexPro, India**;s apparel exports to Australia stood at $***.* million, compared with $***.* million in ****.

Wool exports from Australia to India were $**.* million in ****, compared with $**.* million a year before. However, just in the first five months of this year, wool exports from Australia to India are almost $**.* million, according to data from TexPro.

At Bharat Tex ****, in a conversation with Fibre*Fashion, Todd Miller, trade and investment commissioner at Australian Trade and Investment Commission, said that on the broader scale, it has been an immensely amazing kind of change in the Australia-India relationship over the last few years.