If one still wants a third country transit, I would go ahead with transiting some Middle East countries, like Dubai or Qatar as they have slightly less stringent rules related to covid-19 and borders as compared to Asia Pacific counties like Singapore, Malaysia or Thailand.
Unfortunately, as of today, there are only two airlines who operate direct flights from Ind and Aus: Air India and Qantas, and the rates are x4. But, direct flights score better than third-country transit flights in risk-reward ratio.
@Pyneappl3@Aniket75724789@DGCAIndia But sometimes travel agreement between two countries doesn’t help you to transit. I had checked with SriLankan airlines few days back that transit was not allowed although there was a travel bubble agreement. You can check now though.