Australia India Trade Deal will Boost The Mining Industry

The trade deal between Australia and India will boost the Australian mining sector and create new jobs and opportunities in both countries.

Under the Australia-India Economic Cooperation and Trade Agreement (AI ECTA) signed on Saturday:
• Tariffs will be eliminated on on entry into force for coal, alumina, metallic ores, including manganese, copper and nickel; and critical minerals including titanium, lithium, cobalt, tungsten and zirconium.
• LNG tariffs will be bound at 0 per cent at entry into force.
• Engineering, higher education and a range of construction services will be among 31 Australian services suppliers sectors and sub-sectors guaranteed to receive the best treatment accorded by India to any future free trade agreement partner

As a priority strategic partner in the Indo-Pacific, and Australia’s fifth largest energy and resources market, India is a major investor in Australian resources with significant (and growing) demand for critical minerals products and other resources.

The AI ECTA will assist in realising the potential of the Australia-India economic relationship and provide certainty in the supply of high quality and competitively priced critical minerals essential in the production of mobile phones, flat screen monitors, wind turbines, electric cars and solar panels.
Minister for Trade, Tourism and Investment Dan Tehan said the trade deal would build on existing partnerships and investment streams that already existed between Australia and India in critical minerals.