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Historic trade deal two steps closer

The Indian Cabinet and the Australian Parliament have given the free trade agreement between the two countries the green light. 

The Australia-India Economic Cooperation Trade Agreement (AI-ECTA), signed in April, will now be implemented by the start of the new year.

Once the AI-ECTA comes into force, it will eliminate tariffs on more than 85 per cent of Australian goods entering India and over 96 per cent of Indian goods entering Australia.

Universities Australia Chief Executive Catriona Jackson said the new deal will strengthen education and research ties for the benefit of both nations. 

“Australia and India share a deep commitment to educating as many citizens as possible and providing students with the opportunities they deserve. 

“India is our second largest source market for international students, with nearly 70,000 Indian students studying at Australia’s world-class universities. 

“The demand for a quality education will only grow, with a million Indians turning 18 each month and the Indian Government asking our universities to help educate their students. 

“This agreement will enable our universities to play a leading role in the education of Indian students, both here in Australia and in India, while addressing barriers that might have previously prevented both Indian and Australian graduates from using their qualifications wherever they wish to work. 

“This agreement will also support opportunities for Indian graduates to undertake post-study work in regions and cities where there is a clear need for their skills." 

Image: Australian Prime Minister Anthony Albanese and Indian Prime Minsiter Narendra Modi. Source: Twitter

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