The 10th Round of India-Australia CECA Negotiations was held from 19-22 August 2024 in Sydney in the areas of Goods, Services, Digital Trade, Government Procurement, Rules of Origin and Agri tech.
The Gem and Jewellery Export Promotion Council (GJEPC), the industry body, expects the trade agreement to boost bilateral gem and jewellery trade from USD 1.3 billion at present to USD 2 billion annually. Key commodities exported to Australia are plain gold jewellery, studded jewellery, and cut and polished diamonds. The main commodities imported from Australia are precious metals -- gold and silver bars.
The India-Australia Economic Cooperation and Trade Agreement, which would give a big boost to especially textiles, gems, jewellery, and pharmaceuticals sectors, is expected to create new 10 lakh jobs, said Union commerce minister Piyush Goyal.
