India, 28th September 2023 Trade and Investment Queensland (TIQ), the dedicated global business agency of Queensland Government has recently announced a report titled Queensland–India Trade and Investment Strategy 2023–2027. The report highlights the immense importance of India to the state of Queensland, Australia and outlook for the Indian market for the next 5 years.
With India becoming Queensland’s fourth-largest trading partner and second-largest export market, it is the best time for both regions to deepen their socio-economic relations even further. Queensland’s Indian diaspora has also grown to over 90,000, making it the third largest Indian diaspora in the country and the second-largest non-European diaspora in the State.
Speaking about the blossoming strategic partnership, Treasurer and Minister for Trade and Investment Queensland, Mr Cameron Dick said, “Building on the Queensland Trade and Investment Strategy 2022-2032, the India Trade and Investment Strategy 2023-2027 provides a foundation for that partnership to blossom. It profiles key sectors, states, and opportunities. And it identifies practical initiatives to deepen Queensland’s engagement with India, building on economic and institutional links and people-to-people ties.”
Minister Dick also emphasized, “In partnering with India, we will continue to build a platform for state-wide economic growth and development. This strategy elevates our world class sectors, allowing us to partner with India in shared prosperity and security.”
Queensland’s business landscape is flourishing across various industries drawing parallels to the diverse spirit of India. Within the aviation sector, Queensland and Boeing’s collaboration stands tall. This strategic alliance not only ignites job creation within Queensland but also weaves a robust supply chain web, resonating with India’s burgeoning aerospace ambitions and job opportunities.
Similarly, Queensland’s rising expertise in biomedicine perfectly aligns with India’s burgeoning medical technology aspirations. Further turning the attention to financial services, Queensland’s allure captures the interest of major players with major financial institutions having set up tech hubs within the city’s embrace. This strategic move augments the potential for burgeoning careers for software engineers and data specialists, aligning with India’s prowess in the tech sphere.
Queensland’s mining prowess is universally acknowledged. Queensland state’s resource entities, combined with state-of-the-art mining technology providers, form strategic partnerships with key Indian enterprises. Together, they elevate productivity and institute a resilient ESG (Environmental, Social, and Governance) framework, underscoring our devotion to sustainable and innovative mining solutions.
The growing cooperation and partnership between both countries is even more evident with the fact that a growing number of Indian students are choosing Queensland as their preferred study destination as the region offers a wealth of business opportunities and a vibrant multicultural environment. Last year alone, over 63,000 Indian students arrived in Australia with a student visa, contributing to the country’s reputation as a top-tier study destination.
Sharing his thoughts about India’s partnership with Queensland, Abhinav Bhatia, Senior Trade & Investment Commissioner – South Asia, Trade and Investment Queensland, said, “India’s partnership with Queensland is a testament to the growing synergy between our two regions. With Queensland emerging as a key trading partner and export market for India, the opportunities for collaboration and mutual growth are immense. The Queensland-India Trade and Investment Strategy 2023-2027 sets the stage for a deeper engagement, highlighting key sectors, states, and practical initiatives to strengthen economic ties. As we forge ahead, we aim to foster shared prosperity and security, leveraging Queensland’s expertise in various sectors which align perfectly with India’s aspirations. Moreover, Queensland’s appeal as a study destination for Indian students further solidifies the bond between our regions. Together, we are poised to create a vibrant and prosperous future.”
With its strong focus on innovation, technology, digital education, and the upcoming 2032 Brisbane Olympics and Paralympics, Queensland offers a promising future for international students seeking business opportunities and a thriving career.