India has signed an ECTA (Economic Cooperation and Trade Agreement) in April 2022 with a developed country. Identify the country :

Correct option is C

Correct Answer: C)Australia

India signed the Economic Cooperation and Trade Agreement (ECTA) with Australia on 2 April 2022. This is a landmark bilateral trade agreement aimed at boosting trade in goods and services, investment, and economic cooperation between the two countries.

• The India–Australia ECTA is the first trade agreement India signed with a developed country in over a decade.

• It aims to double bilateral trade to $45–50 billion in 5 years.

• Over 90% of Indian exports to Australia now enter duty-free, including textiles, gems, jewelry, and pharmaceuticals.

• Australia gets duty-free access for coal, wines, almonds, and other goods.

• The agreement also covers student mobility, visa opportunities, and work arrangements.

• Came into force on 29 December 2022.