Hi and welcome.
You will get more Australian's looking at this if you put (Australia) in the end of your journal title.
If your income and budget numbers are right, you are saving about 50% of your income. You can put a calculation or spreadsheet together, but using
https://networthify.com/calculator/earlyretirement?income=180000&initialBalance=273000&expenses=88416&annualPct=5&withdrawalRate=4 as an example, it reckons you have about 14 years to go.
Things I'd be thinking about:
1. What are your expenses likely to look like in FIRE? I assume that India would be cheaper than Sydney? What would your FIRE in India budget be? That's probably a more appropriate target than your current spend.
2. You have had a massive income and bonuses the last few years, but your wealth is a long way short of what you would have from your income minus your budget levels. You mention personal commitments in the past - what makes you think that these are actually behind you?
3. I'm sure others will comment on your expenses, but do you need separate life insurance? You may already have some cover through super?
As to your questions:
1: All else considered equal (again using that calculator from the link above, which is a simplistic assumption) to get your 5-7 year target you need to be at a 70% to 75% savings rate, compared to the 50% you are currently at. This means you either need to cut your current expenses in half, or your expected FIRE budget in half, or extend your timeline.
2. If your numbers are correct (very high income, 50% savings rate), then you are already doing pretty well. Get rid of the silly stuff (like your car loan) and trim your costs a little, then get on with enjoying life while savings rate and compounding does its job.
3. I know nothing about how tax in India works. I'd want to understand that. I'd also want to have more global exposure and less Australian exposure than most Australians. I'm also a fan of equities, where as they are only ~12% of your non-super assets. Were it me, I'd be adding to international ETFs, so I had more growth exposure and less AUD currency exposure - if most of your time in FIRE will be in India.