India-Australia CECA Talks; Piyush Goyal, Don Farrell Discuss Fast-Tracking Trade Agreement

Commerce and Industry Minister Piyush Goyal met Australian Trade and Tourism Minister Don Farrell during the G20 Trade Ministers' Meeting in Milwaukee. The two discussed expediting the India-Australia CECA. 

They also reviewed the progress of ECTA and discussed pharmaceuticals, services, investment, agri-tech and critical minerals. 

ECTA Progress Also Reviewed 

Goyal said the discussion included ensuring Indian businesses make full use of the duty-free access available in the Australian market under ECTA. 

The two countries are also working towards a bilateral investment treaty, according to Goyal. 

Focus on Education and Innovation 

Goyal also spoke about the scope for stronger cooperation in education and innovation between India and Australia. 

He said Australian universities and Indian students complement each other and urged stakeholders to build stronger educational links. He also called for higher standards of governance. 

Trade Reaches $50.2 Billion 

India was Australia's fifth-largest trading partner in 2025, with bilateral trade in goods and services valued at $50.2 billion. 

Australia exported $32 billion worth of goods and services to India in FY2024-25, while imports from India stood at $18 billion. 

Investment Ties Between Both Countries 

Australia's investment stock in India stood at $26.8 billion at the end of 2025. India's investment stock in Australia was $45.3 billion. 

The figures come as the two countries continue discussions around trade and investment, with CECA and the bilateral investment treaty among the areas being worked on. 

Read More: India’s Manufacturing PMI Rises To 55.1 in September 2026 as New Orders Recover! 

Conclusion 

The latest meeting covered the next steps on CECA along with ECTA, investment and sector-level cooperation. Pharmaceuticals, services, agri-tech, critical minerals, education and innovation remain part of the discussions between India and Australia. 

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