The India-Australia Economic Cooperation and Trade Agreement, which came into force this week, is expected to be a “big relief” for Indian textile exporters, according to the Confederation of Indian Textiles Industry. Under the agreement, Australia will offer India duty-free access for about 96.4 percent of its exports (by value) from day one. India’s merchandise exports to Australia in 2021-22 were $8.3 billion, and imports from the country were $16.75 billion. Australia is reportedly the largest importer of apparel in the Southern Hemisphere and offers immense potential for Indian textile and apparel exporters.

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