How recent graduates benefit from India and Australia's historic trade deal

India and Australia have finally struck a historic economic cooperation and trade deal after a decade of negotiations. Under the terms of the deal, India's 6,000 broad sectors will have duty-free access to Canberra's market. Furthermore, Australia would provide additional options for Indians to relocate to the nation to study and work.

Experts hail the introduction of 1,000 working holiday visas for Indian backpackers and a lengthier post-study visa for top Indian IT, engineering, mathematics, and science graduates as a win-win situation for both countries. There are currently over 1 lakh Indian students enrolled in various courses in Australia.

Australia has committed to settle the issue of double taxation that domestic IT companies experience in that market. Canberra has also agreed to change its domestic tax laws to eliminate the taxation of offshore income earned by Indian companies that provide technical services in Australia.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.