Victoria to strengthen trade relationship with India
Australia's international relations are very important in terms of trade, tourism and national ...
Australia's international relations are very important in terms of trade, tourism and national security - and with the current global economic slowdown, the need for positive relationships with other countries has become pronounced.
One such relationship is with India - Australia exports various materials to India such as coal, gold and crude petroleum.
According to 2010-2011 statistics from the Department of Foreign Affairs and Trade, the combined total of goods and services exported to India from Australia amounted to 3.4 per cent of all of India's imports, making Australia India's sixth highest import nation.
Premier of Victoria Ted Baillieu recently announced plans to strengthen this relationship by leading the largest-ever trade mission to India this week (February 20).
220 Victorian companies will attempt to increase two-way trade relations between Indian businesses and the Indian community, in a wider effort to support the local economy.
Mr Baillieu said: "The program will also build on the strengths of the growing Indian community based in Victoria to further broaden cultural ties through tourism, film, education, sport and other linkages."
If the initiative is successful, it may have the potential to support residential property investment in the area.