This comes in the wake of highlighted importance of Australia's commodity and education exports to India.
On May 12, Indian Commerce and Industry Minister Anand Sharma and his Australian counterpart Craig Emerson will begin talks on a free trade agreement between the two countries when they meet in Canberra. India is Australia's third-biggest export market.
Emerson highlighted the importance of Australia's commodity and education exports to India.
"India is an enormous, rapidly expanding market for Australian businesses," he said in a statement Sunday.
Relations between the two countries have been previously strained because the Australian government is opposed to exporting uranium to India that has not signed the UN Nuclear Non-Proliferation Treaty. Violence against Indian students has also stirred diplomatic tensions.
Australia currently has free trade agreements with the US, Thailand, New Zealand, Singapore and Chile.