India and Australia discuss faster trade deal

India is stepping up efforts to expand trade ties, with the government set to bring a proposal for an export promotion mission to the cabinet soon, government sources said on Friday.

Talks are under

way with several countries on new trade agreements, the sources said, adding that India and Australia are discussing ways to accelerate the expansion of their Economic Cooperation and Trade Agreement (ECTA). The broader pact is expected to boost opportunities for Indian skilled workers and exports in the infrastructure sector.

Separately, both Qatar and Bahrain have expressed interest in negotiating free trade agreements with India, the sources added.

India is stepping up efforts to secure trade

deals with partners including the European Union, the UK, Australia and Gulf nations, as it seeks to diversify export markets and reduce reliance on the United States.

Also Read: Commerce minister Goyal says looking at sectors to diversify exports as US tariffs take effect

The trade push comes as US President Donald Trump’s decision to double tariffs on Indian imports to as much as 50% took effect on Wednesday, dealing a setback to ties between the two democracies that had grown closer in recent decades.

The higher duties include a 25% penalty linked to India’s purchases of Russian oil, on top of an earlier 25% tariff on a wide range of goods from garments and gems to furniture and chemicals - among the steepest levies imposed by Washington and comparable to those on Brazil and China.