India has proposed the construction of one million homes in Australia, a project estimated at USD 500 billion, which could become one of the largest international housing collaborations in history. Commerce and Industry Minister Piyush Goyal confirmed that deep negotiations are underway with Australia, and discussions have also been initiated with the UAE to support the financial dimension of the initiative.
The proposal aligns India’s ambition to export skilled labour with Australia’s urgent housing needs and the UAE’s investment appetite. According to The Australia Today, the initiative is positioned at the intersection of construction demand, workforce shortages, and global capital flows.
Master Builders Australia, representing the country’s USD 200 billion building and construction industry, has warned that the National Housing Accord is falling behind schedule. Forecasts now show a widening shortfall in new home construction, with only 180,500 homes expected to be started in 2024–25—nearly 60,000 short of the annual target of 240,000. Over five years, the cumulative shortfall is projected to reach 180,200 homes, up from 160,000 estimated in April.
Speaking at the Bharat Buildcon 2026 conference in Mumbai, Goyal highlighted the acute housing shortage in Australia and invited Indian businesses, workers, and experts to seize the opportunity. He stated that Australia is open to financial collaboration, technical expertise, and workforce support from India. Training and certification pathways are being developed to ensure Indian professionals meet Australian standards.
Goyal described the initiative as a potential game-changer for India’s construction and financial sectors, urging stakeholders not to miss the opportunity. The collaboration could redefine India’s global role in infrastructure development and skilled labour exports.
