New Trade Frontiers Between India and Australia

Abstract

The rising geopolitical tensions between China and Australia can develop new trade frontiers between India, Australia, and the South Asian region as a whole. With this view, the chapter aims to study the present state of bilateral trade relations between India-Australia, identify obstacles that hindered the growth of trade relations between India-Australia in the past, understand the impact of comprehensive economic cooperation for free trade agreement between the two countries. The chapter further discusses the challenges that COVID-19 has posed for trade between Australia and China as well as the future opportunities for bilateral trade between India and Australia. The 2020-21 Australia-India Joint Statement on Comprehensive Strategic Partnership and Comprehensive Economic Cooperation agreement is a step forward in a positive direction in meeting many of the UN SDGs. This chapter is essential for understanding the complexities of “trade creation” between (India and Australia) and “trade diversion” between (China and Australia).