This article covers the economic relationship between India and Australia: trade in goods and services, investment in each direction, the trade agreements in force and under negotiation, taxation arrangements, business and policy dialogues, and agricultural market access. It is based on the Ministry of External Affairs (MEA) bilateral brief of June 2026, and the figures are those the brief gives for the years it states.

Bilateral trade

According to the MEA brief of June 2026, India was Australia's fifth largest trading partner in 2025. Total bilateral trade in goods and services decreased to AUD 50.21 billion in 2025, from AUD 53.06 billion in 2024.

India's total exports to Australia increased to AUD 18 billion in 2025, from AUD 17.52 billion in 2024. Australia's exports to India decreased to AUD 32.2 billion in 2025, from AUD 35.54 billion in 2024. In CY 2024, India's services exports to Australia grew by 28% to AUD 6.05 billion, from AUD 4.73 billion in CY 2023.

Investment

The brief gives two sets of investment figures. At the end of 2025, Australia's stock of investment in India was $26.8 billion and India's stock of investment in Australia was $45.3 billion. For 2024, it gives India's investment into Australia as AUD 50.64 billion and Australia's investment in India as AUD 27.62 billion.

Economic Cooperation and Trade Agreement (ECTA)

The India-Australia Economic Cooperation and Trade Agreement (ECTA) was signed on 2 April 2022 and entered into force on 29 December 2022. Under ECTA, Australia provided zero-duty access to India for 100 percent of its tariff lines in two categories:

  • zero duty on 98.3 % of tariff lines from 29 December 2022
  • phasing out to zero duty on the remaining 113 tariff lines in five years

India agreed to provide duty free access immediately on 40.3 percent of tariff lines, and on the remaining 30 percent in a phased manner.

Comprehensive Economic Cooperation Agreement (CECA)

The Comprehensive Economic Cooperation Agreement (CECA) builds on the foundation of ECTA and aims for deeper commitments in five core areas:

  • Trade in Goods
  • Trade in Services
  • Rules of Origin (including Product-Specific Rules)
  • Digital Trade
  • Government Procurement

As of the brief, the negotiations are ongoing.

Double taxation

The Double Taxation Avoidance Agreement (DTAA) between the two countries was signed in July 1991 and came into force in December 1991. A Protocol amending it was signed in December 2011. Legislation on the DTAA was passed by the Australian Parliament alongside ECTA and came into effect with ECTA's entry into force.

Ministerial and business mechanisms

A Joint Ministerial Commission (JMC), co-chaired by the respective Ministers, reviews economic and commercial cooperation. The 19th JMC meeting was held in Australia on 25 August 2024. The brief also records a visit to Australia by India's Commerce and Industry Minister (CIM) on 08 November 2025.

The Australia-India CEO Forum is a mechanism for businesses from both countries to engage directly on building the trade and investment relationship. It was established in 2011 and revitalised in November 2014. Its members include heads of Indian and Australian businesses from sectors including energy and resources, agribusiness, the financial sector, telecommunications, IT, education and pharmaceuticals.

Following a virtual meeting of the Forum on 28 October 2024, it presented 20 policy papers to the two Governments as specific recommendations on bilateral economic relations. Five Joint Working Groups operate under the Forum:

  • Education
  • Infrastructure, Finance and Investment
  • Energy, Net Zero, Critical Minerals and Resources
  • Digital Economy
  • Agritech

Economic policy dialogues

The India-Australia Economic Policy Dialogue (EPD) is an annual dialogue to share experience in areas such as fiscal affairs, economic affairs, revenue and taxation policy, investments, capital markets and financial services. The 10th EPD was held in virtual mode on 14 August 2025.

A separate Treasury-NITI Aayog Economic Policy Dialogue also exists. The CEO of NITI Aayog met Mr. Luke Yeaman, Deputy Secretary, Department of Treasury, Australia, virtually on 21 June 2021, when both sides signed the Statement of Outcomes of the 2nd NITI Aayog-Australian Treasury dialogue, held in December 2020.

Supply chains

The Trade Ministers of India, Japan and Australia formally launched the Supply Chain Resilience Initiative (SCRI) at a virtual trilateral Ministerial Meeting on 27 April 2021. The 2nd SCRI Ministerial meeting was held on 15 March 2022.

Agriculture and market access

The Mutual Recognition Arrangement (MRA) for organic products between India and Australia and an MoU on Food Safety were both signed in New Delhi on 24 September 2025. The 6th Joint Working Group on cooperation in Agriculture was held in Canberra on 28 February 2025.

Australia has given market access for the export of pomegranate fruits (8 September 2020) and pomegranate arils (July 2022). At the 1st Annual Summit on 10 March 2023, both Prime Ministers welcomed the finalisation of market access for Australian Hass avocadoes to India and Indian okra to Australia.