The trade relationship between India and Australia has experienced remarkable growth in recent years, driven by the many complementarities between the two economies. The value of dual trade in goods and services rose from 13.6 billion dollars in 2007 to 30.4 billion dollars in 2018.
India is the largest democracy in the world and is a market with a total population of 1.3 billion.
Australian businesses have a youthful population, diverse economies, and trajectories of growth: educational, agriculture, energy, resources, tourism, healthcare, financial services, infrastructure, science and innovation and sport.
The Comprehensive Economic Cooperation Agreement was initiated in may 2011, between Australia and India. Nine negotiating rounds have been held, the latest being in September 2015.
Increased economic ties with India have been underlined by the Australian government. The Government formally endorsed India’s independent economic policy and ambitious vision of bilateral trade and investment by 2035 on 22 November 2018.
Prime Ministers Morrison and Modi decided as part of the Comprehensive Strategic Partnership between India and Australia to resume a bilateral Comprehensive Economic Co-operation Agreement (CECA), while taking into account previous bilateral talks where mutually agreed progress can be made.
