New Delhi, Sept. 26 -- India and Australia are working on a bilateral investment treaty (BIT) and upgrading their existing Economic Cooperation and Trade Agreement (ECTA) into a Comprehensive Economic Cooperation Agreement (CECA) to deepen trade and investment ties, Commerce and Industry Minister Piyush Goyal said on Friday.

Speaking at the Institute of Chartered Accountants of India's first Oceania International Conference 2026 in Australia, Goyal said both countries were working towards a balanced, fair and equitable CECA and a trusted partnership.

India's exports to Australia have nearly doubled since the ECTA came into force in December 2022, rising to USD 7.28 billion in 2025-26 from USD 4 billion in 2020-21. Bilateral trade stood ...