Australian and Indian trade negotiators are set to hold talks next week on a free trade deal.
Earlier this month former prime minister Tony Abbott visited India on behalf of the Australian government to follow up on the stalled negotiations.
He met with Prime Minister Narendra Modi, Trade Minister Piyush Goyal and and business leaders to discuss what is known as the Comprehensive Economic Cooperation Agreement.
"During his visit, Mr Abbott received confirmation that India wants to progress CECA negotiations this year. This is something Australia wants as well," Trade Minister Dan Tehan told a business forum.
"Chief negotiators spoke this week, and will meet again next week to discuss the framework for negotiations going forward. And I will discuss the framework with Minister Goyal following this."
Mr Tehan said both countries wanted to progress the CECA this year, but it would require a serious commitment from both sides to get it done in this timeframe.
The deal is expected to boost opportunities in the areas of education, agriculture, energy, resources, tourism, healthcare, financial services, infrastructure, science and innovation, and sport.
Last year, India was Australia's seventh largest trading partner and sixth largest export market.
Two-way goods and services trade with India reached $24.4 billion.
Australia's investment in India was $15.4 billion and the stock of two-way foreign direct investment was valued at $1.4 billion.
The government has also started work on updating its India Economic Strategy, produced by former top diplomat Peter Varghese and released in April 2018.
