In January 2024, India exported goods worth $601 million to Australia but imported goods valued at $1.34 billion, resulting in a negative trade balance of $740 million. Both exports and imports have seen a significant growth compared to January 2023.
However, between January 2023 and January 2024, India’s exports increased by $201 million (50.2%), indicating positive growth in trade with Australia
The major commodities Exported from India to Australia:
Mineral Fuels and Oils
Pharmaceutical Products
Pearls, Precious Stones, and Metals
Electrical and Electronic Equipment
Machinery, Nuclear Reactors, and Boilers
Textile and Apparel Articles
Chemical Products
Commodities Exported from India to Australia:
Mineral Fuels and Oils
India exports mineral fuels, oils, and distillation products to Australia. These include petroleum products and related derivatives. As energy demand continues to rise, this category remains significant in bilateral trade
Pharmaceutical Products
India’s pharmaceutical industry is a global leader in generic medicines. Australian buyers import various medicaments and pharmaceutical products from India. Quality, affordability, and regulatory compliance make Indian pharmaceuticals highly sought after.
Pearls, Precious Stones, and Metals
India supplies pearls, gemstones, and precious metals (such as diamonds) to the Australian market. These high-value commodities find demand among discerning consumers and jewelry enthusiasts.
Electrical and Electronic Equipment
Indian manufacturers export electrical and electronic equipment to Australia. Consumer electronics, appliances, and communication devices fall under this category. India’s cost-effectiveness and reliability contribute to its competitiveness.
Machinery, Nuclear Reactors, and Boilers
Australia benefits from India’s supply of machinery, nuclear reactors, and boilers. These products cater to various industries, including manufacturing, construction, and infrastructure development.
Textile and Apparel Articles
India’s textile industry contributes to exports of clothing, fabrics, and other textile articles to Australia. The unique designs, vibrant colors, and skilled artistry of Indian textiles are highly valued.
Miscellaneous Chemical Products
Chemicals, including specialty chemicals and intermediates, are also exported from India to Australia. These play a crucial role in various industrial processes.