India and Australia Negotiate Comprehensive Economic Partnership Agreement

India and Australia are negotiating a Bilateral Investment Treaty and working to expand their 2022 Economic Cooperation and Trade Agreement into a Comprehensive Economic Cooperation Agreement. Piyush Goyal, India's Union Commerce and Industry Minister, announced these initiatives during the Institute of Chartered Accountants of India's first Oceania International Conference 2026.

Goyal stated that the agreements aim to create a trusted partnership and boost two-way trade, which reached USD 50.2 billion in 2025. He highlighted critical minerals, renewable energy technologies, and education as key areas for enhanced cooperation. To support this, Goyal proposed the implementation of dual degrees for students and the resolution of cross-border taxation issues for IT service providers to reduce business compliance burdens.

A central part of the proposal involves deepening mutual recognition agreements between professional accounting bodies, including the Institute of Chartered Accountants of India, Chartered Accountants Australia and New Zealand, and CPA Australia. Goyal argued that these agreements would facilitate a seamless flow of chartered accountants between the two nations, allowing them to serve as compliance architects for the growing economic partnership.