Oz state’s Engaging India plan to boost trade ties

Highlighting the "close" business ties it enjoyed with India, Australian state of Victoria today launched a new multi-million dollar 4-year strategy aimed at further boosting its trade relations with New Delhi.

Melbourne: Highlighting the "close" business
ties it enjoyed with India, Australian state of Victoria today
launched a new multi-million dollar 4-year strategy aimed at
further boosting its trade relations with New Delhi, including
through job creation and more investment opportunities.

Victorian Premier John Brumby, who launched the
initiative `Engaging India` along with state Trade Minister
Jacinta Allan and Indian envoy Anita Nayar, said it would
boost his region`s industry and trade jobs by helping
companies seize opportunities in India.

"Victoria and India enjoy a long standing relationship
based on mutual respect and common interests and this plan is
about building on those strong business and community links to
drive more jobs, opportunities and business growth for our
state," he said.

"Engaging India is the first dedicated Indian trade
strategy and outlines key actions to drive the close business
and cultural relationships between Victoria and India to
create new jobs and build on our reputation as a leading
destination for international education and business
investment," he said.

Brumby further elaborated that by focussing on various
industries like ICT, biotech, urban development, freight and
logistics, aviation and aerospace, tourism, education in key
Indian regions including Mumbai, Delhi and Bangalore the
Victorian companies would see more exports and investment
opportunities.

According to the state Trade and Industry Minister, the
new plan was to drive new investment by Indian firms in
Victoria.

The key actions under the new plan would include Super
Trade Mission of 200 Victorian companies, with a funding of
four million (Aus) dollars.

Besides, one million dollars for 10 PhD scholarships for
Indian students to study at Victorian universities, an
additional grant to launch the Chair in Contemporary Indian
Studies and one million dollars for Engaging India programme
to provide grants to programmes to support greater community,
cultural and artistic exchange between India and Victoria,
would be provided.

An annual Premier`s India Forum to bring together
community and business leaders to discuss sector capability
building, a scheme to host visits by select Indian trading
partners, investors and buyers, will also be part of the new
plan.

It also includes pre-mission programmes for Victorian
businesses associating with India and facilitating return
visits for Indian businesses to Victoria.

Part of this programme will also include in-market
research for the business sector and increased promotion in
India of Victoria`s trade and investment opportunities.

The programme will see increasing government
collaboration through a strategic partnership with Austrade in
India to share information about potential investments and
opportunities, more strategic agreements with Indian states
backed by an ongoing exchange programme to promote public
sector capability building and actively support visits to
Victoria by Indian Ministers.

PTI

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