Skip to main content

Australian Parliament approves India - Australia Trade deal

Australian parliament has approved free trade agreement with India. The Prime Minister of India, Shri Narendra Modi has thanked Australian PM, Anthony Albanese after the Australian Parliament approves free trade agreement with India. He said that it will strengthen comprehensive strategic partnership.

India Australia Free Trade Agreement PM Narendra Modi and Anthony Albanese hanuman studies
File Pic Image Source: News On Air

According to report published on news on air, Australia Economic Cooperation and Trade Agreement (ECTA) will be greatly welcomed by Indian and Australian business communities. He said it will further strengthen the India - Australia Comprehensive Strategic Partnership. 

Commerce and Industry Minister Piyush Goyal termed the passage of implementing legislation of the Australia - India Economic Cooperation and Trade Agreement as a significant moment for India - Australia bilateral ties. In a Press Conference in New Delhi, Mr Goyal said the move is a big recognition of India's growing global stature. He said Indian IT industry, students and many labour intensive sectors will soon reap the benefits of this landmark deal. He complimented Prime Minister Narendra Modi for the relations he has maintained bilaterally with both the political formulations of Australia. He said Prime Minister's direction to the negotiators was that the agreement has to be good for business and people of both the countries. Mr. Goyal further stated that the agreement opens up significant new opportunities across sectors for Indian Business. He added that India's Textiles and Gem and Jewellery sectors have been keenly waiting for the agreement to be able to sell to high income earners in Australia.

Also Read: Is India Becoming Super-power

The Federation of Indian Chambers of Commerce and Industry said that the agreement shall open doors to opportunities across diverse areas like mining and minerals, pharmaceuticals, healthcare, education, clean energy, transportation, gems and Jewellery, tourism and textiles, generating about a million jobs in India. Associated Chambers of Commerce and Industry of India said the India - Australia (Free Trade Agreement) FTA will offer big opportunites for exporters. The Confederation of Indian Industry also welcomed the ratification of India - Australia FTA.

In response to a tweet by Australian PM,. Anthony Albanese, the Prime Minister tweeted; "Thank you PM@AlboMP! The entry into force of IndAus ECTA will be greatly welcomed by our business communities, and will further strengthen the India - Australia Comprehensive Strategic Partnership."


Highlights of the Free Trade Agreement

  • It will strengthen the India - Australia Comprehensive Strategic Partnership.
  • It will open doors to opportunities across diverse areas like mining and minerals, pharmaceuticals, healthcare, education, clean energy, transportation, gems and jewellery, tourism and textiles.
  • It will also benefit the exporters of both the countries by creating big opportunities.

Short-forms used

  • ECTA: Economic Cooperation and Trade Agreement 
  • FTA: Free Trade Agreement
Report taken from genuine source, no fake news sharing portal: News On Air and PIB

Labels:
Location: India

Comments

Post a Comment

Popular posts from this blog

Socio-Religious Movements and Organisations in India

 Welcome to Hanuman Studies, here are 12 Socio-Religious movements or organisations which happened/founded in India along with their Founder and Founding Year. Socio-Religious Movements in India (Hanuman STUDIES) These points are General Knowledge points which are asked in various competitive exams as various government sectors take tests to hire employee for them. These Socio-Religious movements or organisations are important for various competitive exams. Enjoy reading. हनुमान स्टडीज में आपका स्वागत है, यहां 12 सामाजिक-धार्मिक आंदोलन या संगठन हैं जो अपने संस्थापक और स्थापना वर्ष के साथ भारत में हुए/स्थापित हुए। ये बिंदु सामान्य ज्ञान के बिंदु हैं जो विभिन्न प्रतियोगी परीक्षाओं में पूछे जाते हैं क्योंकि विभिन्न सरकारी क्षेत्र अपने लिए कर्मचारी नियुक्त करने के लिए परीक्षण लेते हैं। ये सामाजिक-धार्मिक आंदोलन या संगठन विभिन्न प्रतियोगी परीक्षाओं के लिए महत्वपूर्ण हैं। मन लगाकर पढ़ाई करो। Socio-Religious Movements/Organisations in India Names are in the form of: S.no. - Movement/Organ...
Post a Comment
Read more

CURRENT AFFAIRS OF 15 OCTOBER 2024 (2024 Nobel Prize in Economics Awarded & Many more)

DAILY CURRENT AFFAIRS NOTES CURRENT AFFAIRS OF 15 OCTOBER 2024 These are the points which you will be read in this PDF of current affairs of 15 OCTOBER 2024. These are important for various competitive exams from current point of view. All the points are provided in English and Hindi Both for the ease for readers.  You can  ⬇️ D ownload the 🆓 FREE 🅿️PDF OF THIS from PDF link given in box⬇️ . Current Affairs of 15 October 2024 Hanuman STUDIES Enjoy Reading  😊. 1. TDS Outreach Programme Conducted by Income-tax Department at Visakhapatnam Steel Plant 2. Inauguration of Pradhan Mantri Divyasha Kendra (PMDK) by Secretary, DEPwD 3. Partnership between Ministry of Skill Development & Entrepreneurship and Meta 4. Launch of Initiatives by Anusandhan National Research Foundation (ANRF) 5. Green Chemical Process for Preparing Amides from Alcohol 6. Bilateral Collaboration Between India and Sweden 7. 5th National Water Awards Announced 8. 19th International Confe...
Post a Comment
Read more

Top 50 Prehistoric Static GK Questions and Answers: Complete Guide to Paleolithic, Mesolithic and Neolithic Age 2026

Top 50 Static GK Questions on Prehistoric Times (Stone Age Complete Guide) Top 50 Prehistoric Static GK Questions and Answers – Paleolithic Mesolithic Neolithic Age Guide 🔥 Paleolithic Age (Old Stone Age) 1. What is the meaning of Paleolithic Age? 👉 Old Stone Age 2. Which is the earliest period of human history? 👉 Paleolithic Age 3. Paleolithic humans were mainly: 👉 Hunters and gatherers 4. Fire was discovered during which age? 👉 Paleolithic Age 5. Humans lived in which type of shelters? 👉 Caves and rock shelters 6. Which famous site shows early human life in India? 👉 Bhimbetka Rock Shelters 7. Bhimbetka Rock Shelters are known for: 👉 Prehistoric cave paintings 8. Which river valley is linked with early human settlements? 👉 Narmada River Valley 9. Tools used in Paleolithic Age were made of: 👉 Stone 10. Main occupation of Paleolithic people: 👉 Hunting and gathering 🌿 Mesolithic Age (Middle Stone Age) 11. What does Mesolithic Age mean? 👉 Middle Stone Age 12. Mesolithic Age...
Post a Comment
Read more