India is the world’s fastest growing large economy1 and is poised to become the third largest by 20302.

Victoria's two-way trade with India between 2015-16 was worth A$1.5 biillion

Victoria already enjoys a close relationship and growing trade ties with India in international education, food and fibre, and tourism. Home to Australia’s largest Indian population, which contributes significantly to the success of our state, Victoria welcomes the largest number of Indian students of any Australian state, and has the largest number of Australian university partnerships with India.

India is a large and complex market which is rapidly changing, and can present challenges for businesses. To ensure targeted entry and the best chance of success, we recommend undertaking solid market research and receiving sound, in-market intelligence.

The Victorian Government’s Victoria’s India Strategy: Our shared future was launched in January 2018 and is a blueprint to further strengthen Victoria’s engagement with India with a view to grow our education, investment and trade relationships. It defines priority sectors and Indian states where Victoria’s world-class offerings align with India’s projected growth.

The Australian Federal government’s India Economic Strategy also includes useful information on several of the industries and states common to the Victorian strategy.


Source: 1. IMF, 2. HSBC - https://www.bloomberg.com/news/articles/2018-09-25/hsbc-sees-china-economy-set-to-pass-u-s-as-number-one-by-2030

Opportunities for Victorians looking to do business with India

Geographical areas of opportunity

Victoria has had a presence in India through its dedicated trade and investment office in Bengaluru since 2005 and second office in Mumbai since 2012. These offices are a hub for building relationships and supporting closer engagement between Victorian and Indian businesses.

The following Indian states present specific opportunities for Victorian businesses:

Victoria's India Strategy: Our Shared Future

Unveiled by the Victorian Government on 14 January 2018, Victoria’s India Strategy: Our shared future is an ambitious blueprint to further strengthen Victoria’s engagement with India.

Pinpointing priority sectors where Victoria’s world-class offerings align with India’s strategy for growth, as well as both governments’ shared priority for strengthening their economies and creating more jobs, the Strategy includes a set of 10-year targets.

Download and read the full Strategy – accessible (DOCX, 108.2 KB)

Discover how your business can export to India

  • An India Economic Strategy to 2025’ –  a report to the Australian Government by Mr Peter Varghese AO –  is a rich sources of market analysis and advice on economic opportunities by industry sector and Indian state.
  • Asialink Business' India Country Starter Pack provides you with a comprehensive guide to doing business in India.
  • The Victorian Government Trade and Investment (VGTI) offices in Bangalore and Mumbai provide tailored market intelligence, insights and guidance for your export business, and can connect you with overseas buyers and industry partners in India.
  • Austrade's India Market Profile provides further detail and facts about the Indian market.
  • The Victorian Government provides support through a range of grants, vouchers and assistance programs.
  • The International Chamber House (ICH) in Melbourne's city centre is a business networking hub for international bilateral chambers and business associations. ICH provides its members with access to meeting rooms, including video-conferencing, flexible workspaces, and function space for international business development events.
  • Opportunities exist for Victorian businesses to bid for contracts across a wide range of sectors and markets with the World Bank and United Nations. Providing financial support to low and middle-income countries for projects focused on development and change, World Bank's contract award decisions are based on criteria other than lowest price, such as quality and sustainability
  • Visit our regional insights page to read seasonal updates from our Regional Specialists