The Australia-India Business Exchange (AIBX) is a multi-year Austrade program.
AIBX provides:
Austrade provides access to resources, insights and news for priority sectors.
India’s expanding middle class has a taste for high-quality, imported food, creating a new market for Australian exporters. In the first year of the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA), Australian agricultural exports to India rose by 50% and continue to expand. Australia’s premium produce such as wine, avocados and lamb, are now entering India either duty-free or under reduced tariffs. This is welcome news for the evolving tastes of India’s urban elite and hospitality sector.
Australian companies can take advantage of strategic engagements between Australia and India to drive commercial collaboration in the defence and space sectors. Demand for Australian solutions in this sector are driven by increasing modernisation of weapons, equipment and machinery in the Indian Armed Forces. The focus is on technology domains such as Cyber and Space (DefSpace), and emerging technologies like Artificial Intelligence, Machine Learning, Hypersonics and Robotics.
There is significant potential for Australian education providers to meet growing demand for high-quality education and skills. The Australian Government has 2 major initiatives to promote Australian education capability in India:
The Indian Government has policies and strategies to secure critical minerals and develop end-use areas such as renewable energy storage and electric mobility. Importantly, India is the third largest energy consumer in the world and plans to increase its renewables capacity to 500 GW by 2030.
India also assigned US$1.5 trillion for national infrastructure projects between 2020-2025, with significant opportunities for Australian businesses in urban, transport and water infrastructure projects, and construction and building management technologies. In 2025-2026 the Indian government has committed an additional 1.98 trillion, roughly 3.4% of the GDP towards a central infrastructure capital budget.
India’s digital economy is expected to see high growth rates in the coming decade.
The tech industry is also estimated to reach A$450–500 billion in revenue over the next 5 years. This is driven by the continued digitisation efforts from India’s central and state governments, and local demand for fintech, medtech, and digitech solutions.
Strong opportunities in India’s healthcare market were projected to reach A$212 million per annum by 2024. The COVID-19 pandemic especially challenged face-to-face healthcare delivery.
The Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) came into force in December 2022. It gives Australian businesses a competitive advantage in India in multiple sectors.
To find out how you can use AI-ECTA to do business with India, read: Guide to using ECTA to export and import goods on the Department of Foreign Affairs and Trade website.
Contact our team of specialists in India who can advise you on the opportunities and challenges of Doing business in India.