2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Germany
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Australia
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France
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Japan
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Detailed explanation-1: -The coming into force of Ind – Aus ECTA brings together two major economies of the world - India the 5th largest economy and Australia the 14th largest economy.
Detailed explanation-2: -The Australia-India Economic Cooperation and Trade Agreement was signed by then Minister for Trade, Tourism and Investment Dan Tehan and India’s Minister of Commerce and Industry, Consumer Affairs and Food, and Public Distribution and Textiles of India Piyush Goyal on 2 April 2022.
Detailed explanation-3: -Of these 8 countries, three countries, viz. India, Malaysia and Cuba have ratified it.
Detailed explanation-4: -Mumbai, 29 December 2022 After the entry into force of India UAE Comprehensive Economic Partnership Agreement on May 1 earlier this year, the India-Australia Economic Cooperation and Trade Agreement (#IndAusECTA) has come into effect from today, i.e., December 29, 2022.
Detailed explanation-5: -After ECTA comes into effect, Australia will allow duty-free imports of Indian wine. In turn, India will cut the duty on Australian wines from 150% to 100% for bottles priced at $5, down to 50% in 10 years.