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FTA with Australia game changer for India: Industry stakeholders

Balaji, joint secretary of ministry of commerce, recently said at an event that India’s exports would go up to $** billion by ****-** against the present shipment of $* billion. Under the agreement, Australia has allowed imports of **.* per cent items from India at zero duty. Earlier, Indian goods attracted tariffs of about *-* per cent, which was a disadvantage as China, Vietnam and Japan have been enjoying zero duty under such trade deals. 

India&#**;s garment exports to Australia are expected to jump by ** per cent in a year, as per Raja M Shanmugham, former president of Tiruppur Exporters’ Association (TEA). “FTAs are very important between the trading countries in this Universal Market Era. The recently concluded trade deal with Australia can provide big boost for Indian textile exports. FTAs with developed world provide big opportunity for developing countries like India.”