Agricultural practices in Australia and India rely heavily on rainfall conditions, and both countries have significant experience in the management of natural resources by taking measures to cope with frequent droughts and floods affecting the lives of millions of people and livestock. Researchers in both countries have been addressing issues related to climate variability, and climate change scenarios. This research examines how the disaggregated farmers in India are organized around a common objective / interest through producers' associations, farmers' federations, and commodity oriented interest groups. Of major concern, is that the Indian farmers' profitable share prices are not being passed on to them. A possible alternative is to have better price recovery if farmers are able to hedge their risks by taking possessions in the forwards and futures through electronically linked commodity exchanges. However, on an individual basis, it is impossible for the small and marginal farmers who are not aware of the market risks and the movement of prices of different commodities in the national and global market. The physical connectivity, the lack of proper storage and warehouses, and the absence of warehouse receipts are serious hindrances in this regard. The Government of India policy makers and the National Bank for Agriculture and Rural Development (NABARD) are concerned with these issues. This Collaborative research between the University of Western Sydney and NABARD will help promote a better understanding of the dynamics of this area and strengthen the bi-lateral relationship. Recent suicides of farmers in India and Australia resulting from drought are matter of deep concern for policy makers in both the countries. Results are shared from this project aiming to facilitate the process of selected institutions in both countries to work together in sharing their experiences in the greater interest of the global farming communities.