India Economic Strategy

On 22 November 2018, the Government formally endorsed the independent India Economic Strategy and its ambitious vision for bilateral trade and investment by 2035. In 2021, the Department of Foreign Affairs and Trade (DFAT) commenced a short update of An India Economic Strategy to 2035 (IES) with the objective of setting priority action items for Government to achieve over the short-term.

For more information you can look at the India Economic Strategy and the Australian government's response and the 2022 update to the 2018 India Economic Strategy.

For business

Austrade has identified potential opportunities for Australian suppliers of goods and services in a number of sectors. Austrade's India country page supplies general information on doing business and on specific export opportunities. The Austrade website has a database that can be searched by industry.

Joint Feasibility Study

In April 2008, Australia and India began a joint feasibility study to examine the merits of a bilateral free trade agreement. The study, which includes an independent economic modelling component, examined the potential impact on Australia and India of a free trade agreement, including implications for economic growth, trade in goods and services, investment and other commercial linkages. The completed study is available below:

• Australia-India Free Trade Agreement Joint Feasibility Study
• Economic Modelling Component [PDF 709 KB]
• Australia-India FTA Feasibility Study submissions

The study found that a comprehensive free trade agreement covering goods, services and investment between Australia and India could lead to a substantial increase in trade in goods, that there is further potential in trade in services and considerable scope for enhanced investment links.

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