Union Budget 2023-24
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The relationship between India and Australia dates long back to 1788 immediately following European settlement. Since then, the ties have only strengthened, and the two nations now thrive on a strong and productive bilateral partnership. The scope of Australia’s relationship with India has increased in line with India’s rapid economic and strategic growth, further propelled by unparalleled rise in mutual trade and investments.

    • The India-Australia Economic and Cooperation Trade Agreement (Ind-Aus ECTA), which is expected to double trade between the two countries to $50 Bn, came into effect on 29th December 2022. Explore More

    • MoU on mines safety: In Jan 2019, Directorate general of mines safety (DGMS), Government of India and Department of natural resource mines and energy, Queensland Government, Australia signed an MoU on mines safety.

    • Civil Nuclear Cooperation Agreement: Signed between the two countries in September 2014 during the visit of the then PM Tony Abbott to India. The agreement came into force from 13 November 2015 and provides the framework for substantial new trade in energy between Australia and India.

    • Australia-India Strategic Research Fund (AISRF): The two countries have identified a number of collaborative research projects in areas such as agricultural research, astronomy and astrophysics, environmental sciences, microelectronics, nanotechnology, renewable energy, marine sciences and earth systems sciences.

    • Joint Working Group on Energy and Minerals: Established in 1999 to expand bilateral relationship in the energy and resources sector.

    • Joint Working Group on Education: The two countries have identified several key areas for co-operation, including collaborative research in education policy, student exchange programs, capacity building in vocational education and distance learning in higher education.

    • Commercial Dialogue: Australia-India Commercial Dialogue is set up to discuss trade and commerce relations and highlight key issues that affect business entities. The aim of this alliance is to identify areas for closer collaboration for mutual benefit of both economies.

    • Australia-India CEO Forum: The CEO Forum is a platform to highlight key issues that affect business entities and to identify areas for closer collaboration for mutual benefit of both economies. 

    • Presidents of Australia and India along with counterparts of USA and Japan convened first in-person Leaders’ Summit of the Quad on ambitious initiatives that deepen the ties and advance practical cooperation on 21st-century challenges.


    • Australia, India and Japan launched the Supply Chain Resilience Initiative (SCRI) in April 2021 to create a virtuous cycle of enhancing supply chain resilience with a view to eventually attaining strong, sustainable, balanced and inclusive growth in the region.

    • Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.

    • India and Australia sign MoU on Tourism cooperation to help give fillip to tourism post pandemic between the two countries

    • India and Australia had 6th meeting of Australia India Education Council (AIEC) to strengthen cooperation in education, skill development, research, innovation, and entrepreneurship

    • India- Australia to commence the landmark General Rawat Young Defence Officer Exchange Programme in the latter half of 2022

    • India-Australia Joint Ministerial Commission: India-Australia Joint Ministerial Commission (JMC) was established in 1989 to enable interaction at a Government and business level on a range of trade and investment related issues. 

    • FDI Equity Investment in India: India received $1,077 Mn in FDI (equity inflows) from Australia between April 2000 to December 2022. Over the last few years, key sectors such as infrastructure have attracted the highest investment from Australian investors.

    • India and Australia sign Economic Cooperation and Trade Agreement (ECTA) to increase the bilateral trade to $50 bn in next five years and $100 Bn by 2030.

    • In 2020, India was Australia's seventh largest trading partner and was the third largest market for services exports. The two-way trade was valued at $24.3 Bn, and the sixth largest goods and services export market, valued at $16.9 Bn.

    • The Indian community in Australia continues to grow in size and importance, with the population of nearly 7 lakhs. 

    • India is one of the top sources of skilled immigrants to Australia. There is a constant flow of students and tourists from India.

    • The number of Indian students continue to grow with approximately 90,000 students presently studying in Australian universities. 

    • India is now the third largest source of immigrants to Australia, after UK and New Zealand and the largest source of skilled professionals for Australia. 

    • The growing significance of the community is reflected in the large-scale celebration of Indian festivals in Australia, especially Deepawali. 

      1. In 2021 Census, India has moved past China and New Zealand to become the third largest country of birth in Australia behind Australia and England
      2. Punjabi language had the largest increase of over 80 per cent from 2016 showing over 239,000  people using Punjabi at home in Australia

Prominent Investments

Australia in India

Macquarie Group

Macquarie provides advisory and capital raising services to corporate and government clients involved in public mergers and acquisitions, private ...Read more

ANZ Bank

The commercial bank provides personal banking along with debt investments in the form of bonds and notes. India ops: ANZ Bank has offices in ...Read more

BHP Billiton

BHP is a leading global diversified miner supplying iron ore, copper, oil, gas, and metallurgical. India ops: Office in Gurugram BHP Billiton has ...Read more


Wesfarmers is Australia's largest conglomerate. Its retail operations include the Bunnings hardware chain (number one in market share), discount ...Read more


Telstra Ventures is the corporate venture capital arm of Telstra. The firm invests in technology companies and offers synergy revenues to its ...Read more

India in Australia

Bank of Baroda

Founded in 1908, Bank of Baroda is a banking institution based in Baroda, India. The company provides banking services including commercial, personal ...Read more

Sterling & Wilson

Sterling and Wilson Solar Ltd is an Indian company primarily engaged in the business of complete Turnkey solution for Engineering, Procurement, ...Read more

Tata Consulting Services

Based in Mumbai, India, Tata Consulting Services is a leading global IT services provider. The IT services firm employs nearly 450,000 employees and ...Read more


Infosys is a leading global IT services provider, with nearly 250,000 employees in 46 countries. Based in Bangalore, the firm offers traditional IT ...Read more
  • Metals and Mining

    Metals and Mining

    • 255 MT

      Forecasted crude steel demand/production (2030-31)

    • 158 kg

      Per capita finished steel consumption (2030-31)

    • 300 MT

      Domestic steel production capacity by 2030

      • Second largest crude steel producer in the world
      • Second largest coal producer in the world
      • Fourth largest iron ore producer in the world
    Visit Sector 21Investible Projects
  • Food Processing

    Food Processing

    • #1

      Largest producer, consumer and exporter of spices

    • #1 

      producer of Milk

    • $535 bn

      Expected value of Indian food and retail market by 2025-26

      • Largest producer, consumer, and exporter of spices and cashew nuts
      • Largest producer of pulses
      • 353 Cold Chain projects, 63 Agro-Processing Clusters, 292 Food Processing Units, and 6 Operation Green projects have been approved
      • Pradhan Mantri Kisan SAMPADA Yojana, a government scheme, was formulated for creating a modern infrastructure with efficient supply chain management from farm gate to retail outlet
      • 41 upcoming Mega Food Parks under Mega Food Park Scheme
    Visit Sector 76Investible Projects
  • FinTech & Financial Services

    FinTech & Financial Services

    • 1st

      Highest fintech adoption rate (87%) globally

    • $140 bn 

      Transaction value estimated to reach by 2023

    • 3rd

      Largest FinTech ecosystem globally

      • Indian FinTech industry’s market size is $31 Bn in 2021 and is estimated at ~$ 150 Bn by 2025
      • India led Asia-Pacific in fintech investments with US $ 5.94 bn raised across 236 deals in 2021
      • Digital payments market is expected to reach $1 tn and digital lending in India is expected to be $100 bn by 2023
    Visit Sector
  • Healthcare


    • 3 mn

      eSanjeevani telemedicine consultations

    • 1 mn

      Skilled healthcare workers by 2022

    • $350 mn

      India's surgical robotics market by 2025

      • Indian Healthcare Industry to reach US $ 5 Bn by 2025
      • By 2022, the diagnostics market is expected to grow at a CAGR of 20.4% to reach $32 bn from $5 bn in 2012
      • The Indian patient monitoring market is valued at $ 1,369.56 mn and is projected to register a CAGR of 9.39% by 2027
      • Over the next 10 years, National Digital Health Blueprint can unlock incremental economic value of over $200 bn for the health sector.
    Visit Sector 623Investible Projects
  • Retail & E-commerce

    Retail & E-commerce

    • 2nd

      Rank in Global Retail Development Index (GRDI) in 2021

    • 3rd

      Largest consumer economy by 2025

    • 5th

      Largest preferred retail destination globally

      • Asia’s 3rd largest retail market and 4th largest globally
      • Consumption expenditure to reach $6 tn by 2030
      • Indian retail market is projected to reach $2 tn by 2032
      • The E-Commerce market is expected to touch $350 Bn in GMV by 2030
      • 10% Contribution to India's GDP
    Visit Sector 2Investible Projects
  • Textile and Garments

    Textile and Garments

    • 6th 

      largest exporter of textiles and apparel 

    • 95%

      of the world's hand-woven fabrics are made in India 

    • $300 bn

      Indian textile exports by 2024-25

      • Largest producer of cotton and jute
      • 2nd largest producer of polyester, silk and fibre
      • Contributes 27% to the country's foreign exchange inflow
      • Employs over 52 mn people directly and 69 mn people indirectly, the 2nd largest employer in India
    Visit Sector 4Investible Projects
  • Automobile & Auto-Components

    Automobile & Auto-Components

    • 4th 

      Largest car manufacturer

    • 4th

      largest vehicle market

    • $118 bn

      Current value of Indian Automobile Industry

      • Largest two-wheeler and three-wheeler manufacturer
      • 2nd largest bus manufacturer 
      • 3rd largest heavy trucks manufacturer  
      • Employs 35 mn people both directly and indirectly
      • Electric vehicle market in India is expected to be valued at $2 bn by 2023
    Visit Sector 5Investible Projects
  • Oil & Gas

    Oil & Gas

    • 2nd

      Largest refiner in Asia

    • 3rd

      Largest consumer of crude oil and petroleum products

    • 20%

      Target of achieving ethanol blending in petrol by 2025

      • India is the largest exporter of petroleum products in Asia
      • Its the 3rd largest consumer of energy and oil in the world after China and the US
      • 16,788 km of operational natural gas pipelines and 14,239 km gas pipelines are under development
    Visit Sector 1Investible Projects

KfW IPEX-Bank provides financial support to Australian Cos. supplying products to Jindal Stainless

KfW IPEX-Bank is providing $ 82 mn in financing to support Austrian companies Primetals Technologies Austria GmbH and Andritz AG in supplying products and services to Jindal Stainless (JSL).

JSL is procuring capital equipment from Europe as part of its plan for an expansion of its production facilities in Jajpur in the Indian state of Odisha. The expanded facility is expected to increase stainless steel production capacity from 1.1 mn tonnes per annum (MTPA) to 2.1 MTPA.

Australia Team

One-stop-shop for exploring and materializing your India entry plans. Working closely with the Union Ministries, States and regulatory authorities, we bring to you a seamless experience in kick-starting your India business.

Key Functions:

  • End-to-end spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare
  • Initiating, attracting, facilitating, fast-tracking and handholding Australian investments across sectors
  • Providing information on investment opportunities across sectors, in specific projects 
  • Extending holistic support to the small and medium enterprises from Australia with interest in investing in India

Team Advantages

  • Opportunity assessment

    Opportunity assessment

  • Policy and incentive advisory

    Policy and incentive advisory

  • Location assessment

    Location assessment

  • Market entry strategy

    Market entry strategy

  • JV and strategic partner research

    JV and strategic partner research

  • Approvals and compliance advisory

    Approvals and compliance advisory

  • Issue redressal support

    Issue redressal support

  • Expansion advisory

    Expansion advisory

  • Policy impact analysis

    Policy impact analysis

  • India-Australia

    Press release

    India Australia Economic Cooperation and Trade Agreement: A Win-Win for India and Australia

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  • Prime Minister's meeting with the Prime Minister of Australia on the sidelines of G-20 Summit in Bali

    Press Release

    Prime Minister's meeting with the Prime Minister of Australia on the sidelines of G-20 Summit in Bali

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  • An India Economic Strategy to 2035: Navigating from potential to delivery


    An India Economic Strategy to 2035: Navigating from potential to delivery

    Read Now
  • Australia Economic Strategy


    Australia Economic Strategy

    Read Now
  • Investment Promotion Reforms in India


    Investment Promotion Reforms in India

    Read Now
  • Ease of Doing Business in India


    Ease of Doing Business in India

    Read Now
  • 1

    Press Release

    India and Australia are deepening ties through two-way mobility to fulfil 21st century aspirations

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  • https://iis.ncog.gov.in/parks/login1#


    India Industrial Land Bank

    Visit Now

About Us

Invest India

The one stop-shop to ensure your success in India

Our Prestigious Awards

We are the most awarded IPA in the world

  • The World's Most Innovative Investment Promotion Agency Award 2021 awarded by OCO Global

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2020 for best practices in COVID response

  • Best Investment Project Award five years in a row - 2016 to 2020 at the Annual Investment Meeting (AIM) organized by the Ministry of Economy, UAE.

  • Great Place to Work Certification by GPTW Survey 2019

  • The UNCTAD Award 2018 for promoting investment in sustainable development

  • Great Place to Work Certification by GPTW Survey 2018

  • Investment Award 2016 from the Indian Ocean Rim Association (IORA)

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2016 for excellence in partnering for investment promotion