India-Australia ECTA to create 1 mn jobs in next 4-5 years: Piyush Goyal
- IBEF
- April 8, 2022
Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal, stated that the India-Australia Economic Cooperation and Trade Agreement (ECTA) will create roughly 10 lakh jobs in the next 4-5 years.
In the next five years, the freshly negotiated trade treaty with Australia is expected to increase bilateral trade from US$ 27 billion to roughly US$ 45-50 billion, with another benefit being that students from India will be granted work visas to work in Australia.
The ECTA, which was signed on April 2, is India's first trade deal with a developed country in more than a decade, and it establishes an institutional system to boost bilateral trade.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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