New Delhi: Indian traders should follow seven steps, including knowing trade policy and rules of origin of respective products in Australia in order to take full advantage of the recently implemented free trade agreement, according to a study by GTRI. The India-Australia free trade agreement came into effect on December 29, 2022.
The Global Trade Research Initiative (GTRI) said India-Australia Economic Cooperation and Trade Agreement (ECTA) offers many concessions to exporters and imp ..
Utilisation rate of India’s free trade agreements (FTAs) is low and one of the factors is low awareness about the process and its benefits, it said adding these steps can help Indian companies make full use of the trade agreement.
The steps include knowing the correct HSN codes in the documents as the tariff classification of the same product may differ in India and Australia.
In trade parlance, every product is categorised under an HSN (Harmonised System of Nomenclature) c ..
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