Why India?
India is undergoing major reforms and embracing pro-business policies to drive its large-scale development program. There’s never been a better time to export to India.
India is one of the fastest-growing major economies in the world, making it a strategic choice for Queensland businesses looking to expand internationally. With a rising middle class, and a rapidly increasing demand for quality goods and services, India offers immense growth potential.
As of 2024, India is set to become the third-largest economy by 2030, with annual consumer spending projected to reach over six trillion USD. Queensland businesses can tap into thriving sectors such as technology, agriculture, and clean energy, where demand is particularly strong. India’s robust digital transformation and initiatives like ‘Make in India’ and ‘Digital India’ further promote a favorable business environment for foreign companies looking to enter the market.
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AUD 580 billion to GDP each year up to 2032
World’s third largest economy by 2030
Rapid urbanisation of 300 million people by 2050
Rapid urbanisation of 300 million people by 2050 will change the Indian market’s appetite for sophisticated goods and services in the next 5–10 years.
Public-private partnership models are evolving with the advent of private participation, particularly in telecoms and infrastructure. eCommerce and eLearning too, are a rapid-growth sectors.
Characterised by scale, skill and speed (a ‘3S’ approach), successful business ventures in India are typically either high-volume/low-margin or provide niche products or services.
India market overview with Abhinav Bhatia
Commissioner for Trade and Investment Queensland India
India is Queensland’s fourth-largest two-way merchandise trading partner, and the third largest merchandise export market.
India is poised to grow its economy, with a strong focus on modernisation, consumerism, capability development, and skill and capacity building, which bring significant opportunities for Queensland across diverse sectors.
Australia and India launched negotiations for an Australia-India Comprehensive Economic Cooperation Agreement in 2011, which came into force on 29 December 2022.
India opportunities
- Coal – both exports and energy development in-market
- Infrastructure – urban design, architecture, housing, precincts
- Education and skills training
- Processed food, horticulture and agricultural technology
- Mining equipment, technology and services
- ICT- and health-focused innovation and research collaborations
- Business incubation hubs
- Sustainable food
- Professional services
- Education and training
- Research and development
- Queensland–India Trade and Investment Strategy 2023–2027
- Mining India’s METS opportunities
- Asialink, Doing Business in India
- Austrade, Market profile – India
- Austrade, Market Information Package for Australian education institutions
- DFAT, An India Economic Strategy To 2035
- DFAT, Australia-India Comprehensive Economic Cooperation Agreement
- DFAT Market Insights India
Global markets
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