India
Overview
India is Queensland's third-largest merchandise export destination, with merchandise exports totalling $5156.5M in 2009-10. This represented 12 per cent of Queensland's total merchandise exports.
India has been identified as one of the world's emerging economies,with a fast growing population. The median age for 55 per cent of the 1.2 billion population is 25 years, This young demographic profile means that growth rates will remain high. It is predicted by 2018 India will overtake China as the world's fastest growing economy and this means many opportunities exist for Queensland exporters in the consumer and services sector.
The mining and manufacturing industries already offer significant opportunities, with the innovative technologies / services, environmental management, education and training sectors steadily growing.
Queensland shares many similarities with India, including tropical and subtropical climates and a comparable resource base. Additionally, the Indian market presents a diverse range of opportunities for Queensland exporters across a broad range of products and services, including mining equipment, technology and services, building and construction, health and medical, clean technologies, rail, sustainable tourism, tropical rainforest management, and niche food and beverages.
Much of the growth in India is being driven by a huge population shift associated with the urbanisation of major cities, which, by 2030, will have resulted in 590 million people moving to and living in tier 1-2 cities (nearly twice the population of the Untied States today).
Consequently, this growing urbanisation is resulting in major infrastructure growth, including residential and commercial development. India therefore has a large requirement for construction-related products and services to meet these growing demands.
Australia - India Free Trade Agreement (FTA) Feasibility Study
On 4 May 2010, former Australian Trade Minister, Simon Crean, and the Indian Minister of Commerce and Industry, Mr Anand Sharma, welcomed the conclusion of the Australia-India Free Trade Agreement (FTA) Feasibility Study.
The Study recommends negotiation of a comprehensive bilateral FTA that includes trade in goods, trade in services, investment and other trade and investment facilitation and cooperation measures, as a single undertaking.
For further information please visit www.dfat.gov.au/geo/india/fta-study/index.html
Trade and Investment Queensland representation
Trade and Investment Queensland India is situated in Bangalore providing export advice and assistance to Queensland businesses. There are also advisors located in Mumbai and Kolkata.
In addition, our overseas market teams based in Brisbane work closely with our network of export advisers throughout Queensland and overseas, enhancing opportunities for mutual support and collaboration to help build the export capability of Queensland firms and help drive export growth.
Australia India Business Council
Trade and Investment Queensland work closely with the Australia India Business Council (AIBC), which is a business association that exclusively promotes, develops and maintains bilateral trade and business relationships between Australia and India. The AIBC is a peak membership body and is a conduit through which exporters and investors from both countries can make connections and leverage opportunities.
Publications
Trade and Investment Queensland has a range of publications that provide more detailed information about export opportunities in India.
More information
For more information about how we can help you export to India contact Trade and Investment Queensland.
Our calendar of events and export training provides information about export and trade activities for India and other markets.
Last reviewed 29 June 2011
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