Yes, there is a niche. You would have to find a job with an Australian company that has business in India. Or you would have to find a job with an Australian law firm that needs an inhouse Indian lawyer because they have Australian clients doing business in India and don't want to be at a disadvantage in Indian dealings, particularly when sitting on the opposite side of the table from an Indian law firm in a negotiation or deposition that will be binding in India.
It would help if you also studied Australian law. Being versed in both would make you a much rarer commodity. There are certainly many more Indian lawyers in Australia who aren't also Australian lawyers than there are Indian lawyers who are. By knowing both, you become a lot marketable. That doesn't mean, however, that you wouldn't be able to find work using your Indian law degree, but you would have to be lucky, be a very good and very accomplished Indian lawyer, or have some other qualification to set you apart so that you could beat out all of the other Indian immigrants with law degrees seeking employment in Australia, many of whom are working as cabbies and janitors.