Australia's free trade deal with India to remove tariffs on exports such as coal and metals
24 Nov 2022 17:22 reported by Ranny Fang
India is the main export destination for Australian metallurgical coal, accounting for nearly three-quarters of India's metallurgical coal imports. Australia ratified the Australia-India Economic Cooperation and Trade Agreement (AIECTA) on November 22, exempting metallurgical and thermal coal exports from India's 2.5% tariff.
The free trade agreement (FTA) needs to be approved by the Indian parliament to take effect.
The FTA will eliminate tariffs immediately upon entry into force. India will also remove tariffs on manganese 2.5%, copper 2.5%, nickel 0%, cobalt 2.5%, aluminum 2.5%, and tin ore 2.5%.
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