India is now the fastest growing major economy in the world, recording 7.3 per cent growth in 2015-16. Considering the mid to long term growth trajectory of the country, the trade and investment opportunities are not fully maximised. India is Australia’s fifth largest export market with Australian merchandise and services exports valued at approximately A$13.5 billion as of 2015. The Australia – India bi-lateral trade is valued at A$19.8 billion. In 2015, Indian foreign investment into Australia was valued at A$11.6 billion, with Australian investment in India valued at A$1.5 billion.
India is a challenging place to do business. The Government is seeking to improve the ease of doing business and is seeking to foster innovation through initiatives, such as ‘Digital India’, ‘Start-up India’ and ‘Make in India’, which complement the Australian Government policy objectives of deepening Australia's innovation links globally.
Taking into account India's economic growth imperative, and the social, environmental and business challenges India faces in integrating such rapid change Austrade's strategy for India focuses on: international health, agritech, rail, road safety, premium food, METS, higher education and in-market skills development for international work placement, smart urban infrastructure development (taking advantage of the governments smart cities program) and a new e-commerce initiative, reflecting India’s online retail growth (which is the fastest growing across the region, even when compared with markets like China, Japan and Australia). The investment focus for India is on innovation and technology and resources and energy, and agritech.
More information on doing business in India
India regional profiles
Market summaries of major states in India: