Australia will begin offering up to 1,000 work and holiday visas each year to Indian citizens from October 1, as part of its commitment under the India-Australia interim free trade agreement.

Commerce and Industry Minister Piyush Goyal, who concluded his three-day visit to Australia, said that this move will facilitate mobility and deepen people-to-people connect.

The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) came into effect from December 2022.

"During the visit, happy to learn that Work and Holiday visa, a key commitment under India-Australia Economic Cooperation and Trade Agreement will be operational from 1st October 2024 which will facilitate mobility and deepen people-to-people connect," Goyal said in a post on X on Thursday.

Under the ECTA, Indian nationals aged 18-30 years can apply for a one-year visa to work, study, and travel across Australia.

Australia would annually grant up to 1,000 multiple entry work and holiday visas for a temporary stay of 12 months to Indian citizens who meet the eligibility requirements under the Australian legislation.

The two sides are now negotiating to expand the scope of the existing ECTA to a Comprehensive Economic Cooperation Agreement (CECA).

"The visit allowed both sides to review progress of CECA and implementation of ECTA initiatives. In addition, several interactions with Australian and Indian businesses in Sydney will lead to enhancement of trade and investment ties between the two countries," the commerce and industry ministry said in a statement.

The two sides also discussed the target of achieving AUD 100 billion bilateral trade by 2030 and enhancement of cooperation at multilateral and other regional forums.

Meanwhile in a separate statement, the ministry said the sixth session of India-Egypt Joint Trade Committee (JTC) was held in New Delhi on September 16-17, 2024.

The Indian side informed that necessary approvals for signing the MoU on cooperation between National Small Industries Corporation (NSIC) and MSME Development Agency (MSMEDA) of Egypt have been obtained.

India and Egypt also identified several areas of focus for enhancing bilateral cooperation in trade and investment, including that in the Suez Canal Economic Zone (SCEZ), pharmaceuticals, gems and jewellery, engineering, petroleum and mining, customs matters, and electronics manufacturing.

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