Market profile

India is amongst the fastest growing major economies in the world, growing at around 7 per cent growth in 2017. 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$ 19.2 billion as of 2016-2017. The Australia – India bi-lateral trade comprising of merchandise and services is valued at A$ 25.7 billion. In 2016-2017, Indian foreign investment into Australia was valued at A$ 13.5 billion, with Australian investment in India valued at A$ 10.3 billion.

India is a challenging place to do business. The Government of India is improving the ease of doing business that includes the Goods and Services Tax (GST) launched in mid-2017 to simplify India’s tax regime and the Government is also 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: Agritech and diary; premium food and beverages; rail, transport and smart urban infrastructure development (taking advantage of the governments smart cities program); METS, Oil and gas and resources; international health, life sciences, cyber security and fintech; higher education and in-market skills development for international work placement, and an 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

More information on doing business in India

India regional profiles

Market summaries of major states in India:

Facts

  • Imports from India A$6,113 million
  • Exports to India A$14,627 million
  • Capital New Delhi
  • Official Languages Hindi, English
  • Area 2,973,190 sq km
  • Population 1,309 million

Events

News

Information provided by DFAT

Country brief

A comprehensive overview of political, economic and bilateral and regional trade agreements.

» read more at DFAT

Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with India and their global merchandise trade relationship that is updated twice a year.

» read more at DFAT

Smartraveller

The Department of Foreign Affairs and Trade’s Smartraveller site provides advice for business travellers and tourists going to India. This is regularly updated and should be checked before planning travel.

» read more at DFAT

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