Opening stance

Context:

The first phase of a pact sealed with Australia under the Economic Cooperation and Trade Agreement (ECTA) by India in April 2022 is likely to be operationalized soon, paving easier market access for Indian services and goods. 

India-Australia Trade deal:

• Countering China’s dominance: Australia’s disappointment with the ‘weaponisation of trade’ by China helped to galvanise sentiment about India being a more trustworthy partner.
• Reliability: It is a strong positive signal about India’s credentials to a world shuffling its feet away from disrupted supply chains towards a ‘China plus one’