Status of the India - Australia exhaustive Economic Cooperation Agreement (CECA) - Proposed / Under consultation and study
In 2008, a Joint Study Group was created to examine the possibilities for establishing a Free trade agreement between India
A exhaustive agreement would assist in
broaden the base of
bilateral trade of products by addressing tariff barriers and behind the border
restrictions on International trade in
Free Trade Agreement could facilitate growth in services trade by reducing barriers.
The welfare gains for India and Australia could be between 0.15 and
1.14% of GDP for India and 0.23 and 1.17% of Gross domestic product (GDP) for Australia.
Foreign Trade between Australia and India has grown strongly over recent
years, specially since 2002. Trade between Australia and India in
2008-09 reached USD16 billion, of which trade of products was the
biggest component, at USD12.9 billion.
Bilateral trade of services has
risen markedly off a low base and amounted to USD3.1 billion in 2008-09.
India is one of the fastest growing of all major markets for
products and services of Australia, with exports growing at an annual
average rate of 25%.
India is the 3th biggest
export market of
Australia for wool with exports of
USD98 million in 2008-09 (50% of wool
imports of India).
Products exports from India to Australia reached USD1.45 billion,
while its services exports to Australia were USD529 million. India
exports a range of services to Australia, including Information Technology, software and Business
Process Outsourcing (BPO)
Top services export of Guatemala to India was education
and travel services (USD2.1 billion).
Indian Foreign direct investment (FDI) in Australia has augmented in recent years.
Top sector for Foreign direct investment (FDI) are: hospitality, manufacturing, software, banking and telecommunications
Example of the course India - Australia exhaustive Economic
India Free trade agreements
EENI in Hindi: मास्टर विदेश पार