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Tariff removal could enable AWI explore new processing opportunities in India

  

The removal of wool tariffs as part of the new Australia India free trade agreement could open the door for Australian Wool Innovation (AWI) to explore new processing opportunities within India.

John Roberts, CEO, AWI hopes the additional opportunities relating to early stage processing could be developed off the back of the signing of the interim Australia-India Economic Cooperation and Trade Agreement.

Under the deal, the 2.5 per cent tariff currently imposed on Australian wool imports into India will be slashed to zero.

India is currently Australia's third biggest international market for wool, taking a 4.6pc share of wool exports, coming in behind China's 80pc share and Italy's 5pc.

India has typically taken between 4 to 8pc of the wool clip, at one point reaching 12pc, adds Roberts.

Roberts described India as a slightly closed shop at the moment, dominated by four or five key textile businesses but the changes could make India an early stage processor for markets globally, he added.

 
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