"Otherwise Australia goes for election next year, maybe the (talks for the) agreement will go beyond that depending on the work we are able to do in these two months," Additional Secretary in the Department of Commerce Rajesh Agrawal told reporters.The eleventh round of negotiations are expected to be held next month. The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) came into effect from December 2022. Now both the sides are negotiating to widen the scope of ECTA through a comprehensive economic cooperation agreement (CECA).The utilisation of the trade agreement so far is more than 80 per cent, which means that businesses of both the countries are benefitting out of this, he said."They have guided the officials to see in case the CECA can be expedited if possible. There are sensitivities on both sides, and we will be engaging with each other over the next two months to see that those sensitivities can be brought down and can be reduced until we can achieve a closure," Agrawal added.Australia is an important trading partner of India in the Oceania region, with merchandise trade between India and Australia reaching around USD 24 billion in 2023-24.

India looks to close FTA negotiations with Australia in 2 months

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.