Australia and India will sign a "historic" new free trade deal which will boost exports by at least $45 billion.
The new agreement will strip tariffs off 96 per cent of Indian imports into Australia and 85 per cent of Australian exports, rising to 91 per cent over the next decade.
It will particularly support Australian exports of wine, wool and lobsters.
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Prime Minister Scott Morrison announced the agreement while on the campaign trail in Tasmania for one of the most marginal seats in the upcoming election.
"This agreement is an agreement that ensures that whether you're producing wool or whether you're producing crayfish or mining resources, critical minerals and rare earths," he said.
"Whether you're growing berries or avocados or cherries or beans, producing alumina."
"All of this is part of the important trade agreement that we've been able to reach with India."
Mr Morrison said the agreement is all about jobs.
"It means jobs in the regions and when the regions are successful... then all of Australia is successful," he said.
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Wine and coal will benefit most from the new deal after two years of uncertainty due to sanctions imposed by China.
Tariffs on wine will be cut immediately while tariffs on vegetables, fruit and vegetables will be gradually reduced.
Australian coal, gas, copper and critical minerals will be tariff-free.
However, Minister for Trade, Tourism and Investment Dan Tehan has pointed out that some major industries will miss out including beef and dairy, but claims the industries are supportive of this.
"Meat and livestock in Australia are very supportive of this agreement," he said.
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Federal Labor has supported the government's new agreement, saying it will enhance relations between India and Australia.
"Labor supports closer trade links with India, which is in the national and economic interests of both nations," Shadow Minister for Trade Madeleine King said.
Ms King did say she hopes the agreement is more "substantial than previous rumours and expectations" and it is signed soon.
The deal has been agreed on after more than a decade of negotiations.
