“India-Australia Trade Pact Watershed Moment For Our Relations”: PM Modi

India and Australia on Saturday signed an economic cooperation and trade agreement as per which Canberra would provide duty free access in its market to over 95 per cent of Indian goods such as textiles, leather, jewellery and sports products.

The India-Australia Economic Cooperation and Trade Agreement was inked by Commerce and Industry Minister Piyush Goyal and Australian Minister for Trade, Tourism and Investment Dan Tehan in a virtual ceremony, in the presence of Prime Minister Narendra Modi and his Australian counterpart Scott Morrison.

“This is truly a watershed moment for India-Australia relations,” Mr Modi said.

“This is a watershed moment for our bilateral relations. On the basis of this agreement, together, we will be able to increase the resilience of supply chains, and also contribute to the stability of the Indo-Pacific region,” Mr Modi added.