A decade-long strategy showcasing to India Victoria’s strengths as a world-class destination for international education, tourism, sports, culture and innovation, and a welcoming and innovative business and trade partner aims to double the value of goods exports to India to nearly A$1 billion by 2027.
Unveiled by the Victorian Government on 14 January 2018, and the result of hundreds of hours of consultation with more than 200 partners, Victoria’s India Strategy: Our shared future pinpoints 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.
Poised to become an economic powerhouse by 2030, the Indian Government is seeking the smartest, most innovative and sustainable ideas to support its rapid growth.
"Victoria’s vision is to be a valued knowledge and business partner to India, supported by India-capable businesses, strong ties to leaders and sustained connections with the community and public sector."
With education, health and liveability as priority sectors, and significant emphasis on Victoria's creative, visitor and technology economies, the Strategy includes a set of 10 year targets to:
- increase goods exports to India from an annual average of A$500 million over the last five years to A$959 million by 2027
- increase the number of Indian postgraduate research students in Victoria by 25 per cent
- double the number of Victorian businesses engaged by the Victorian Government Trade and Investment (VGTI) office in India from 150 to 300 each year
- nearly triple the expenditure by Indian visitors to Victoria from A$367 million to A$885 million.
Victoria's long-established presence in India – which is the largest out of all the Australian states with offices in Bengaluru and Mumbai – enjoys strong ties with India’s influential industry bodies, government, corporate and the non-corporate sector, providing ongoing support for Victorian businesses trading with India, and Indian businesses investing in Victoria.
The Department of Economic Development, Jobs, Transport and Resources (DEDJTR) is a co-sponsor of the whole-of-government Strategy, and in 2017 contributed to its trade and investment content through a program of coordinated consultation, engagement and research activities, managed through Trade Victoria.
Victoria's Minister for Trade and Investment, said he had no doubt “the India Strategy will combine the skills, knowledge, and expertise of India and Victoria to achieve outcomes that are enduring and mutually beneficial.”
- There are more than 38,500 students from India enrolled at Victoria’s universities and leading education providers.
- The international education sector contributes more than A$5 billion to the state’s economy and provides jobs for 30,000 Victorians.
- With more than 209,000 Victorians of Indian ancestry, Victoria boasts the highest Indian population in Australia, and each year welcomes more students, more visitors and more businesses from India.
- India is Victoria’s fifth most lucrative offshore tourist market.
- In the 12 months ending September 2017, more than 135,000 people from India visited Victoria, staying a combined five million nights and spending A$373 million at Victorian businesses.
Download and read the full Strategy: