Victoria to explore trade,investment options with India

Hyderabad, Apr 30 (UNI) Victoria will explore new trade and investments opportunities with India as part of a new Brumby Government review on strengthening links with New Delhi, Victoria Industry and Trade Minister Theo Theophanous said today.

In a statement, Mr Theophanous said India was the fastest growing of all Victoria's major markets. In 2006-07, Victoria's two-way goods trade with India was worth 4 million.

''We want to capitalise on India's rapid economic growth and on the similarities between Victoria and India across a wide range of sectors. This review will develop a dynamic and clearly focused Victorian Government strategy for this important emerging market,'' he said.

Mr Theophanous said the review, which will be chaired by Parliamentary Secretary for Industry and Trade Marsha Thomson, would also build on other Brumby Government initiatives to grow Indian links.

''These include major trade missions, the appointment of a Special Trade Envoy for India, a Victorian Government Business Office in Bangalore and cooperation in relation to the 2010 Commonwealth Games. There is a vast scope for further cooperation between Victoria and India on many fronts, including on IT projects, as Satyam's recent decision demonstrates,'' he added.

The city-based Satyam Computer Services will build a huge 2000 job software development and training campus in Geelong in Victoria.

''Other major opportunities for increased trade and investment include healthcare, biotechnology, automotive, aerospace, education, environmental technologies and food and agriculture,'' he added.

Mr Theophanous is currently in India with a Victorian healthcare and biotechnology trade mission.

UNI VA GM PAG1720