New Delhi, Dec 29 (IANS): Prime Minister Narendra Modi on Thursday said the India-Australia trade pact, which came into effect on December 29, is a watershed moment for a comprehensive strategic partnership between the two countries.

Modi also said that he looked forward to his Australian counterpart Anthony Albanese's visit to India in March.

Earlier, Australian PM Albanese said that he will visit India in March next year with a business delegation committed to improving two-way trade between the two nations.

"The Australia-India Trade Agreement, which came into force today, will deliver new opportunities to Australian businesses. At the invitation of PM Modi, I will visit India in March with a business delegation committed to improving two-way trade between our two nations," Albanese tweeted.

Modi replied to Albanese's tweet, saying: "Glad that IndAus ECTA is entering into force today. It is a watershed moment for our Comprehensive Strategic Partnership. It will unlock the enormous potential of our trade and economic ties and boost businesses on both sides. Look forward to welcoming you in India soon."