New Delhi, Dec. 30 -- All Indian goods shipped to Australia will attract zero duty from January 1, unlocking "fresh opportunities" for India's labour-intensive sectors, Union commerce minister Piyush Goyal said on Monday as the two countries celebrate the third anniversary of their free trade agreement, which helped India to reduce its trade deficit with Australia. "As we mark the 3rd anniversary of the India-Australia Economic Cooperation & Trade Agreement (Ind-Aus ECTA), we celebrate a partnership that has translated intent into impact. Over the past three years, the Agreement has delivered sustained export growth, deeper market access, and stronger supply-chain resilience, benefiting Indian exporters, MSMEs, farmers, and workers alike," the minister said in a post on X. Highlighting key wins under the deal, Goyal said: "India's exports to Australia grew by 8% in FY 2024-25, improving India's trade balance." The FTA between India and Australia came into force on December 29, 2022, and the two countries are currently negotiating to expand its scope to a Comprehensive Economic Cooperation Agreement (CECA). According to government data, India's merchandise trade deficit with Australia progressively reduced after the free trade agreement (FTA). India's trade deficit with Australia, which was $12.06 billion in 2022-23, fell to $8.22 billion in 2023-24 and $6.94 billion in 2024-25 on rising exports and falling imports, data showed. To be sure, the actual annual impact of the FTA started coming from 2023-24, post operationalisation of the trade pact. India's total merchandise exports to Australia increased by 14.2% from $6.95 billion in 2022-23 to $7.94 billion in 2023-24. In 2024-25, the annualised growth in the total exports to Australia was 8.31%, increasing to $8.6 billion. While exports increased progressively since FY23, India's imports from Australia saw a year-on-year decline. India's merchandise imports from Australia fell from $19.01 billion in 2022-23 to $16.16 billion in 2023-24, registering a 15% dip. The imports from Australia further fell by about 4% in the next fiscal year (2024-25) to $15.53 billion, according to official data. "Strong gains were witnessed across manufacturing, chemicals, textiles, plastics, pharmaceuticals, petroleum products, and gems and jewellery," the minister said in his post. Agri-exports recorded broad-based growth, with sharp increases in fruits and vegetables, marine products, spices, and exceptional growth in coffee, he added. He particularly pointed at gains in gems and jewellery exports, which rose 16% in the first eight months of the current financial year (April-November 2025). The sector is highly labour intensive and has faced headwinds from ongoing geopolitical developments and imposition of a hefty 50% tariff by the US....