Syllabus: GS-II; Subject: International Relations; Topic: India’s relations with other nations, Issue: India-Australia ties.
Context: Economic Partnership of India -Australia.
Focus Areas:
- Climate and clean energy drive Australia-India ties.
- Bilateral discussions focus on climate change, solar energy, and green hydrogen.
- Negotiations ongoing for higher climate finance target.
Bilateral trade agreement between Australia and India.
- Economic Cooperation and Trade Agreement (ECTA) was signed
- Entered into force in December 2022.
- Focus sectors: Education, agriculture, energy, tourism, healthcare, etc.
- Benefits: Tariff elimination on 85% of Australian exports to India.
- Aims to strengthen economic ties and unlock opportunities.
Negotiations have now resumed for an ambitious Comprehensive Economic Cooperation Agreement (CECA), which will build upon ECTA outcomes to capitalise on the potential for closer economic ties between Australia and India.
