Australian farmers aren't expected to immediately benefit from a new trade deal with India.
But Trade Minister Andrew Robb says service industries and investors will be the big winners.
Mr Robb has returned to Australia after his fifth visit to India in 12 months.
He is confident a trade agreement with India can be concluded by the end of the year and come into force in late 2016.
However, he says that while there is a "reasonable" package in the agreement for exporters of goods, the timeline for opening up markets for agriculture would be "quite protracted".
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There is strong demand in India for engineering, legal, financial, educational and other services, as well as investment in rail and road infrastructure.
The agreement once concluded will require Labor's support in the parliament.
Opposition Leader Bill Shorten, who won concessions from the government over the China free trade deal, says Labor is in favour of trade liberalisation.
But he says the government needs to properly explain the benefits of any new agreements.
