India and Australia had signed an Economic Cooperation and Trade Agreement (ECTA) that seeks to almost double bilateral trade in the next five years to $45-50 billion from $27 billion now. Commerce and industry minister Piyush Goyal and Australian minister for trade, tourism, and investment Dan Tehan signed the India-Australia ECTA in a virtual ceremony in the presence of Prime Minister Narendra Modi and his Australian counterpart Scott Morrison. The agreement is likely to be implemented in another four months.
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