Economics
India, Australia Sign Economic Deal to Deepen Trade Ties
- Deal to slash duties on 85% of items shipped from Australia
- Indian minister expects bilateral trade to double in five year
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India and Australia signed a wide-ranging economic pact on Saturday, cutting duties on more than 85% of goods exported to the South Asian nation, as both governments secure alternative supply chains and counter an assertive China.
Closer engagement between the two Quad alliance partners comes even as Australia, along with Japan and the U.S., push India to take a stronger stand on Russia’s invasion of Ukraine. The South Asian nation has stayed away from outrightly condemning Russia.