Victoria state opens business office in B'lore

Bangalore, Sept 20: Eyeing to cash in on the booming IT business investments from India the Australian State of Victoria today opened a business office, its first in India, here today.

Speaking after inaugurating the office, Governor of Victoria Prof. David de Kretser said, "Australia is India's eighth largest overseas investor, with over one billion Australian Dollar, approved for around 140 joint ventures. This investment covers manufacturing, telecommunications, hotels, minerals processing, food processing, oil and gas and automotice sector. Indian investment in Australia is also worth around one billion Australian dollars, making the our country the ninth most important destination for Indian foreign direct investment".

CEO of Invest Victoria CEO Ben Fosset said the office was opened primarily to tap the Indian companies, mainly the IT majors and companies in bio-technology, which were looking towards Australia for making investments. The state government was also looking for niche opportunities for Victorian companies bringing their capabilities into India. Hence the government had put forward its first step in building a network in India.

"Invest Victoria was looking for the best location to establish a base in India and chose Bangalore because it is a city with a vision and very similar to Melbourne in many ways. The office will be staffed by specialists in ICT, education and international trade whose task will be to assist Indian companies looking to invest in Victoria," he said.

Wayne Lewis, Victorian Government Commissioner for India, said Indian IT majors like Infosys, Satyam, TCS, Pentasoft and HCL had major presence in Victoria employing nearly 800 locals. "Indian companies looking for best expertice in SAP should come to Melbourne which is a very good place if they are looking for high end and high technology business," he said.

The State government's goal was to use the new office as a platform to promote Victoria and its capital city Melbourne as a key location for INdia's overseas investment, he added.

UNI