What is Free Trade Agreements (FTA)

India is Australia's fourth largest export market and investment destination, and fifth largest trading partner, with access to a large and youthful market of 1.4 billion population. In 2018, India was the second largest source of skilled professionals after the UK and third largest source of immigrants after the UK and New Zealand. Increasing number of Indian nationals and businesses are choosing Australia as a destination of choice for education, tourism and for doing business. The Independent India Economic Strategy – 2035 was launched on 22 November 2018 for promoting bilateral trade and export market for Australian goods, services, and investment opportunities for mutual economic benefit. This chapter examines the economic significance of bilateral trade relationship between Australia and India and opportunities and challenges faced by the two countries with focus on education, tourism, health, agri-business, alternative energy, and mining sectors to meet the demand and supply gap and the sustainable development goals.