India-Australia Trade Relations: A Growing Partnership in 2025
India Australia Bilateral Partnership in the Indo-Pacific region, sharing a vision for a resilient, inclusive, and open economic landscape. In the financial year 2022-23 (FY23), India was Australia’s 9th largest trading partner, while Australia was India’s 13th largest. India Australia Bilateral Partnership continue to strengthen their economic ties through trade in various sectors such as petroleum products, engineering goods, pharmaceuticals, textiles, gems, and jewellery.
India-Australia Bilateral Trade Overview
- Total Bilateral Trade in FY24: $24.1 billion (approx. ₹1,99,610 crore)
- Total Bilateral Trade in FY23: $25.9 billion (approx. ₹2,14,490 crore)
- India’s Exports to Australia in FY24: $7.94 billion (approx. ₹65,700 crore)
- India’s Imports from Australia in FY24: $16.15 billion (approx. ₹1,33,640 crore)
India-Australia Foreign Direct Investment (FDI)
Australia ranks 26th in terms of FDI equity inflows into India. From April 2000 to September 2024, India received an FDI inflow of $1,500.86 million (approx. ₹12,420 crore) from Australia.
India’s Major Exports to Australia (FY24 & FY25)
India exported 5,124 commodities to Australia in FY24. The total export value reached $7.94 billion in FY24 and $4.92 million during April-October FY25.
Top Exported Products (April-March FY24)
- Petroleum Products – $3.81 billion (₹31,520 crore)
- Engineering Goods – $1.42 billion (₹11,740 crore)
- Drugs & Pharmaceuticals – $454.36 million (₹3,760 crore)
- Ready-made Cotton Garments – $321.06 million (₹2,660 crore)
- Gems & Jewellery – $297.01 million (₹2,460 crore)
Exports (April-October FY25)
- Mineral Fuels, Oils, and Waxes – $2.50 billion (₹20,680 crore)
- Natural & Precious Pearls – $203.39 million (₹1,680 crore)
- Pharmaceutical Products – $248.14 million (₹2,060 crore)
India’s Major Imports from Australia (FY24 & FY25)
India imported 1,722 commodities from Australia in FY24, with total import values of $16.15 billion in FY24 and $8.41 billion from April-October FY25.
Top Imported Products (FY24)
- Mineral Fuels, Oils & Waxes – $11.02 billion (₹91,200 crore)
- Natural & Precious Pearls – $2.01 billion (₹16,640 crore)
- Ores, Slag & Ash – $729.33 million (₹6,040 crore)
Imports (April-October FY25)
- Mineral Fuels, Oils & Waxes – $4.60 billion (₹38,080 crore)
- Natural & Precious Pearls – $1.64 billion (₹13,580 crore)
- Ores, Slag & Ash – $514.58 million (₹4,260 crore)
The trade relationship between India and Australia is growing stronger, with diversified exports and imports. The petroleum sector, engineering goods, pharmaceuticals, and gems & jewellery drive India’s exports, while mineral fuels, pearls, and ores dominate imports. With continued collaboration and economic partnerships, both countries can expect a promising future in bilateral trade relations.
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