India. Market overview. Chandigarh. New Delhi. Jaipur. Ahmedabad Kolkata. Mumbai. Pune. Hyderabad. Bangalore. Chennai. Kochi

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1 INDIA

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3 India Market overview India is the third largest economy in the world in terms of purchasing power and is characterised by a rapidly growing middle class and an increasingly urbanised and youthful population. India s middle class is predicted to reach more than 250 million by 2015 and each year, the number of people turning 20 is equal to the entire Australian population. Just under a third of the population live in urban areas. This is expected to rise to more than 50 per cent by Over the coming decades India is projected to add between 12 million to 15 million workers to its labour force each year. Australian goods and services exports to India fell 17.5 per cent year on year in to A$15.1 billion. Merchandise goods dominate Australia s exports to India, representing nearly 87 per cent of the total. The latest figures for merchandise exports showed a decline in 2012, with a contraction of 20 per cent year on year to A$12.2 billion. Despite a recent downward trend, India remains Australia s fourth largest export market with a 4.8 per cent share of total exports. Thermal coal exports doubled in and are likely to increase further as India faces huge fuel requirements. Indian steel producers have also started importing iron ore as a result of mining bans in Karnataka and Goa. Austrade s network in India Chandigarh Jaipur New Delhi Ahmedabad Kolkata Mumbai Pune Bangalore Hyderabad Chennai Kochi Austrade Post Austrade Sub-Post > 3

4 Opportunities and challenges Indian corporates have highlighted a lack of skilled workers as a major strain on their productivity and growth. In recognition, the Indian Government has set an ambitious target of providing skills training to 500 million workers across 30 sectors by The International Monetary Fund forecast for India in is for a subdued recovery and a growth rate of six per cent, after a marked slowdown in Construction, agriculture and services are forecast to lead growth, with the manufacturing sector remaining weak. The Indian Government s decision in September 2012 to allow 51 per cent foreign direct investment in multi-brand retail may open up opportunities in the logistics and food processing sectors. Trade outlook General trends include the emergence of opportunities for Australian food and agri-business suppliers, as growing wealth is accompanied by changing consumption patterns. The need to modernise and globalise the manufacturing sector is creating opportunities for research and technology collaboration with Australia. Investment outlook In 2011, the stock of Indian investment in Australia was A$11 billion and Australian investment in India was A$4.3 billion. In India was Australia s 12th largest source country for approved proposed investment, with A$2.2 billion of approved investments, of which A$1.9 billion was for mineral exploration and development. India s outward investment has been growing rapidly in recent years as Indian companies pursue markets, technologies and resources. A significant amount of this investment has been channelled into developed markets across manufacturing, services and resources sectors. India s privately owned conglomerates are leading the approach but state-owned groups are also investing aboard. The Indian Government has been easing restrictions and is encouraging companies to invest overseas. India is tipped to replace China as the largest source of new multinationals in the emerging world from Austrade s strategy for attracting investment from India focuses on collaboration and commercialisation of Australian research, development of the digital economy, tourism infrastructure, and assisting India in its needs for improved energy security. Urbanisation and industrialisation are creating demand for Australian resources and infrastructure service providers. The Indian Government has announced plans to invest US$1 trillion on infrastructure in the country s 12th five-year plan from 2012 to The core capacities of India s energy companies also need to be improved to increase efficiency and productivity. Australia s mining expertise is widely acknowledged as world-class and there is considerable scope for involvement in the improvement of mining practices in India, including mine safety, mine rehabilitation and vocational training. Australian companies entering India face a complex regulatory environment and strong competition from domestic conglomerates. The World Bank s 2012 Ease of Doing Business report ranked India 132 overall out of 185 countries. India and the broader region currently impose tariffs and nontariff barriers, such as import bans, standards and certification agreements to protect domestic industry. Establishing a local presence and leveraging local supply chains are often the best market-entry strategies and companies need to be prepared to make the investment of time and resources required to succeed in the market. 4 > Austrade

5 Education outlook Despite a downturn in demand for Australia s education services since 2009, India remains the second largest education market for Australia by a wide margin. Australia s education sector is well represented in India. Half of Australia s universities (19 out of 39) have offices in India. The scale of the opportunity to promote Australia as an education destination as well as to collaborate in-country for the delivery of programs is represented by the 75 million young Indians who will enter the workforce over the coming five years. The demographic changes in India present opportunities for Australian education providers in the area of vocational education training provision in-market. By 2020, India s population of year olds will exceed 110 million, the largest cohort in the world. Corporates in India are articulating a need to address employee skills deficits. Austrade s focus in this area will be across automotive, aviation, healthcare, mining and construction. These sectors are experiencing growth across India and for which Australian training providers are recognised for their capability. Austrade services Assisting Australian business in international markets Austrade is the Australian Government s trade, investment and education promotion agency. One of our key roles is to provide a range of services to assist Australian companies seeking to grow their business internationally. Experienced local staff have strong industry contacts, enabling the team to offer new information and market insights to Australian companies as well as to the broader Australian Government presence in market. The badge of government is particularly important in a market in which the influence of government officials can affect decisions at multiple levels. India attaches a premium to government-to-government ties and Austrade is able to assist clients by opening doors and navigating the bureaucracy. How Austrade helps Australian business Austrade has 11 posts across India which reflect the need to support Australian businesses in managing the different demographic profiles, regulatory environments and sectoral comparative advantages across India s diverse regions. Start the conversation Visit our website at us on Call us on These posts form part of the greater South Asian network which includes Pakistan, Sri Lanka and Bangladesh. Austrade works with the business community and influencers to address information asymmetries and highlight Australian capability and investment potential, leveraging the Australia Unlimited brand. Austrade s extensive networks with businesses in priority areas and across many locations allows the team to connect Australian business with the right partners and opportunities. > 5

6 Case study ResMed s expansion into India ResMed, an Australian global leader in the development, manufacture and marketing of innovative medical products for treating and managing respiratory disorders, markets its products in more than 70 countries. It first entered the Indian market in 1995 using a distributor model. In 2005 ResMed acquired the distributor and formed ResMed India, a wholly-owned subsidiary. Austrade supported ResMed in-market by: arranging market visit programmes, including introductions to and meetings with potential distributors providing referrals to professional services firms supporting the launch of ResMed s products in India liaising with the Indian Medical Council and Ministry of Health and Welfare for product approvals facilitating links between ResMed and hospital chains in India to create a platform for industry engagement. ResMed has four offices and over 100 distributors selling its products across India and is planning further expansion. 6 > Austrade

7 Case study Architectural services firm Modelcraft s success Sydney-based architectural services firm, Modelcraft, has been involved in project animation and developing architectural scale models for building construction and infrastructure projects. Modelcraft s major export markets are the Middle East, India and Singapore and its major export customer segments are infrastructure developers, civil engineering and construction companies and architects. Modelcraft s office in Dubai is responsible for their business and export market development in India. Austrade started work with Modelcraft in India in and its market-entry strategy revolved around frequent visits, meeting potential customers independently and through Austrade, undertaking negotiations, initiating projects and sending the requisite team for implementation. During its engagement with Austrade New Delhi, Modelcraft staff were introduced to new customers in-market and provided with a range of services including market access and industry information, information on potential customers and partners, market visit programmes, post meeting follow-ups and consular support. In 2011, Modelcraft s largest multi-project contract in dollar value was with one of North India s biggest developers.

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