Export markets - India

Exporting to India

India is an attractive market for Australian exporters due to:

• a fast growing and increasingly affluent consumer market
• a transforming economy that offers fast-growing opportunities for Australian businesses
• an appetite for Australia’s premium products and services.

India is a significant and influential global player. It has become the world’s third largest economy in terms of purchasing power parity.  

Australia-India Economic Cooperation and Trade Agreement (AI-ECTA)

The AI-ECTA is in force from 29 December 2022. It will deliver new market access opportunities for Australian businesses and consumers. Learn how Australian exporters are taking advantage of the AI-ECTA.

Outlook for growth

India’s economy is on track to grow strongly as it rebounds from COVID-19 impacts.

A few highlights:

• The OECD projects that India’s economy will grow 12.6% in 2021. This will make India the only major country to achieve double digit growth in 2021 (OECD Economic Outlook, Interim Report March 2021, accessed March 2021).
• Rapid growth of a large, diverse and wealthy consumer market. Domestic demand is likely to be a major driver of recovery and growth over the next decade. This will likely make up 60% of the overall economy (World Economic Forum, Future of Consumption in Fast-Growing Consumer Markets: India, January 2019, accessed March 2021).
• India’s median income per household is expected to reach A$13,867 by 2025 (IMF, World Economic Outlook Database, India, accessed March 2021).
• Growing consumer expenditure. This is expected to grow by a factor of four up to 2030. This is an increase of 140 million (World Economic Forum, Future of Consumption in Fast-Growing Consumer Markets: India, January 2019, Accessed 18 March 2021).

Increasing two-way trade and investment

Key initiatives:

• The Australia India Business Exchange (AIBX) is the government’s flagship business exchange program between Australia and India.
• Australia and India are focused on expanding commercial partnerships and strengthening supply chains under the Comprehensive Strategic Partnership. Sectors include critical minerals, grains, water and infrastructure.
• An India Economic Strategy to 2035 provided detailed recommendations to government on transforming Australia’s economic partnership with India.
• Australian exports to India were valued at A$18.7 billion in 2019-20 (Department of Foreign Affairs and Trade, Country and commodity pivot table 2005-06 to 2019-20, December 2020, accessed March 2021).

Ease of doing business

Exporting and importing has become easier for the fourth consecutive year. India has moved up 14 places to rank 63rd among 190 countries for ease of doing business. (Source: World Bank, Ease of doing business index, accessed March 2021).

The India Economic Strategy report provides snapshots of each of India’s 29 states and opportunities for Australian goods and services.

Read about doing business in India.

Success stories

Many Australian businesses from different industries are finding success in India.

Read about their success stories in this market.

Austrade’s dedicated team in India

Austrade’s dedicated team in India can help you understand, enter and succeed in this market.

Contact Austrade online or call 13 28 78.