India and Australia
ECTA connects trade access, businesses and two Indo-Pacific economies. Education and human ties have their own role. The 2025 Australian roadmap seeks to develop sectors and investment without turning objectives into results already achieved.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07ECTA since December 2022
The Economic Cooperation and Trade Agreement entered into force on 29 December 2022.
A sector-based economic strategy
The new Australian roadmap identifies economic cooperation and business opportunities.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 23,709.59 M USD | 2025 · UN Comtrade / IND |
| Goods: India to Australia | 7,749.85 M USD | 2025 · UN Comtrade / IND |
| Goods: Australia to India | 15,959.73 M USD | 2025 · UN Comtrade / IND |
| Services trade | ||
| Export share: India to Australia | 1.74 % | 2025 · UN Comtrade / IND |
| Export share: Australia to India | ||
| Investment stock: India in Australia | ||
| Investment stock: Australia in India |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: India to Australia
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Australia to India
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Export share: India to Australia
- 2025 · UN Comtrade / IND · Goods share: IND exports to the partner / the same reporter's exports to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | India | Australia |
|---|---|---|
| Nominal GDP | 3.96 trillion USD2025 · WB | 1.8 trillion USD2025 · WB |
| GDP per capita | 2,702.48 USD2025 · WB | 65,129.72 USD2025 · WB |
| GDP growth | 7.57 %2025 · WB | 1.35 %2025 · WB |
| Policy interest rate | 5.25 %2026-10-06 · RBI | 4.6 %2026-09-29 · RBA |
| Inflation · annual average | 2.4 %Annual average · 2025 · WB | 2.87 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.82 %provisionalprovisionalYear-on-year · Aug. 2026 · MoSPI | 4 %Headline CPI · 2026-08 · year-on-year · ABS |
| Unemployment | 4.22 %ILO est.2025 · WB | 4.09 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -7.4 %IMF est.2025 · IMF | -2.8 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 84.1 %IMF est.2025 · IMF | 51 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.42 %2025 · WB | -2.68 %2025 · WB |
| Population | 1,463,865,5252025 · WB | 27,614,4112025 · WB |
| Area | 3,287,260 km²2023 · BM / FAO | 7,741,220 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDIndia: 2025 · World BankAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personIndia: 2025 · World BankAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)India: 2025 · World BankAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)India: 2026-10-06 · RBI policy repo rate · Reserve Bank of India (RBI) · Access date for Current Rates; does not represent a new decision on 6 October. · Alternative official source; verified 2026-10-06Australia: 2026-09-29 · Cash rate target · RBA · Official central-bank decision; not a commercial lending rate or a bill yield.
- Inflation · annual average
- Average annual change in headline CPI (%)India: 2025 · Average annual CPI change (%) · World BankAustralia: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedIndia: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · MoSPI / Press Information Bureau, Government of India · Published: 2026-09-14 · provisional · Provisional · Combined rural and urban headline CPI, 2024 base; provisional MoSPI figure. Not food or wholesale inflation. Provisional figure or official advance release; subject to revision.Australia: 2026-08 · National headline CPI, change from the same month of the previous year · ABS · Published: 2026-09-30 · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionIndia: 2025 · World Bank · ILO est.Australia: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)India: 2025 · IMF — World Economic Outlook · IMF est.Australia: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)India: 2025 · IMF — World Economic Outlook · IMF est.Australia: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPIndia: 2025 · World BankAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleIndia: 2025 · World BankAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Area
- Total area in km²; territorial coverage of the sourceIndia: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOAustralia: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
India to Australia
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 3,290.3 M USD2025 · Source |
| Machinery and mechanical appliances | 525.3 M USD2025 · Source |
| Pharmaceutical products | 475.2 M USD2025 · Source |
| Electrical and electronic equipment | 380.8 M USD2025 · Source |
| Land vehicles and components | 264.6 M USD2025 · Source |
Australia to India
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 7,857.1 M USD2025 · Source |
| Machinery and mechanical appliances | 59.1 M USD2025 · Source |
| Electrical and electronic equipment | 57.3 M USD2025 · Source |
| Pharmaceutical products | 22.2 M USD2025 · Source |
| Land vehicles and components | 5.3 M USD2025 · Source |
Connections between people
Education, work, visits and community connections have their own records and procedures. Residents are not equivalent to annual arrivals, and visits may be repeated. The tables retain dates, definitions and sources to distinguish these connections from business contracts and government decisions. [2]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from India living in Australia | ||
| Residents from Australia living in India | ||
| Study and training: India in Australia | ||
| Study and training: Australia in India | ||
| Academic stays: India in Australia | ||
| Academic stays: Australia in India | ||
| Travel: India to Australia | ||
| Travel: Australia to India |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
ECTA since December 2022
The Economic Cooperation and Trade Agreement entered into force on 29 December 2022. DFAT publishes texts and tools on preferences and rules. The agreement covers specific commitments, not every imaginable trade authorisation. Origin and timing matter for each good. The goods statistics accompanying this profile are distinguished from services and local sales of established businesses. [1]
A sector-based economic strategy
The new Australian roadmap identifies economic cooperation and business opportunities. It includes Australian state-level activities and contacts with Indian investors and businesses alongside the federal channel. This institutional distribution shows that the relationship is not exclusively between prime ministers. A sectoral priority subsequently requires contracts, projects and financing to produce results. [2]
Education and regional connections
The economic strategy incorporates capabilities, training and business contacts, which may involve mobility and educational institutions. Entry and work rules have instruments distinct from goods trade. A student, a stay and a resident are not interchangeable populations. Counts are added only with verifiable coverage, not inferred from trade volume. [2]
The scale of the two economies
India recorded nominal GDP of 3,956.1 billion USD in 2025, compared with 1,798.5 in 2025 for Australia. The reference populations were 1,463.87 million (2025) and 27.61 million (2025), respectively. In the same year, India's nominal GDP was 2.2 times Australia's. These figures contextualise market size; they do not by themselves describe well-being, individual wealth or political influence. IMF estimates or population extrapolations retain their labels in the table. No ratio is calculated when periods do not match. [4] [5] [6] [7]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Economic development after ECTA
The 2025 roadmap allows priorities after the treaty's entry into force to be examined. The same year's customs figures show recorded activity without attributing every movement to tariff reductions. Resources, business demand and supply chains also play a part. The programme remains a working horizon, not a certificate of general implementation. [2] [1]
Observed economic exchange
In 2025, recorded goods trade between India and Australia totalled 23,709.6 million USD. Shipments from India to Australia were 7,749.9 million USD; those in the reverse direction were 15,959.7 million USD. India's shipments to the partner represented 1.74% of its goods exports to the world, using the same year and reporter. A single customs reporting source is used for both directions. This annual flow does not include all services activity or affiliates' local sales and is not added to accumulated investment capital. [3]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Economic Cooperation and Trade Agreement
Australia DFAT · Institutional source · Accessed: 2026-10-07
- Roadmap for economic cooperation with India
Australia DFAT · Institutional source · Document: 2025 · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 699; partners 0,392,36,784,682,376,364,50,524,144,360,704
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 699; partners 392,36,784,682,376,364,50,524,144,360,704; X/M; annual goods.