India's and Austalia's trade breakthrough.

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Morrison declares Australia is opening 'one of the biggest economic doors' in the world in signing historic trade deal with India

Prime Minister Scott Morrison thanked his Indian counterpart for dealing with COVID-19 and security issues in the Indo-Pacific together as he spoke to Australia's historic new trade deal.
Zoe Zaczek

April 2, 2022

Australia’s new trade agreement with India has been described as “opening the biggest door of one of the biggest economies in the world” by Prime Minister Scott Morrison.

Mr Morrison told reporters in Tasmania the historic trade deal, which had been in the works for a few years, was “incredibly important” for the nation.

“Today, we open one of the biggest economic doors there is to open in the world today,” he said on Saturday morning.

“We've been working on this for many years, the last three-and-a-half years in particular.

“Now, the Indian economy is worth billions and billions and billions all around the world. And there are many countries who want to do more business with India.

“But it's actually Australia that has been able to secure in the agreement that we've been able to reach.”

The agreement, which will be signed by Trade Minister and his Indian counterpart Piyush Goyal on Saturday, will see tariffs eliminated on more than 85 per cent of Australian goods exported to India.

Mr Morrison and Indian Prime Minister Narendra Modi will witness the signing of the deal, which also removes tariffs off 96 per cent of Indian imports into Australia.

“I also, obviously want to thank my dear friend, Prime Minister Modi, who we've become very close over the years as prime ministers, as we’ve dealing with the many challenges that we face in our region and in our world,” Mr Morrison said.

“Whether it's dealing with COVID, whether it's dealing with the security issues in the Indo-Pacific, or indeed, dealing with the economic partnership that we've both been so keen to forge.”