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Trade

Australia, India move toward free trade pact to cut China dependence

'Early harvest' interim agreement expected as early as this month

Dock workers at a port in India.   © Reuters

SYDNEY/NEW DELHI -- Australia and India are expected to reach an interim free trade agreement as early as this month as both countries seek to diversify trade to cut their economic dependence on China.

The so-called early harvest deal would lower tariffs on some goods and take other steps in advance of a full FTA. It would cover goods, services, rules of origin and customer procedures, among other areas, according to India's Ministry of Commerce and Industry.

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