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- India, Australia Economic Cooperation and Trade Agreement, ECTA has come into force from 29th December. Both countries signed the agreement on 2nd April 2022.
- ECTA is India’s first trade agreement with a developed country after more than a decade.
- The agreement covers cooperation in the entire gamut of bilateral economic and commercial relations between the two friendly countries.
- According to exporters and industry veterans, the agreement will help double bilateral trade to US$ 45-50 billion in about five years.