Victoria Boosting Trade And Investment With South Asia

15 March 2018

The Andrews Labor Government is attracting new investments from top technology players in India with major software group Ramco Systems today announcing it will set up a state-of the-art innovation centre in Melbourne.

Ramco, which already has its Oceania headquarters in Melbourne, will set up a Workforce Innovation Centre developing new technologies in artificial intelligence, facial recognition, language processing and interactive technologies like virtual assistants and chatbots.

Minister for Trade and Investment Philip Dalidakis made the announcement today at Ramco Systems’ Chennai headquarters.

Mr Dalidakis is currently leading a trade mission to India and Sri Lanka which will strengthen Victoria’s ties with the region in sectors including digital technology, education, research and sports technologies. He is the first sitting Victorian Minister to visit Chennai in an official capacity.

Mr Dalidakis also announced a major collaboration between Deakin University and the Indian Institute of Technology Madras. The two will join forces to establish a new centre of excellence in metallurgy and additive manufacturing.

The new Deakin IIT Madras Centre of Excellence in Metallurgy and Additive Manufacturing builds on the 10-year relationship between the two institutions and will offer PhD programs and drive research in light, strong and high temperature materials.

India and Sri Lanka are key markets for Victoria’s booming international education industry. More than 200,000 Indian students have been educated in Australia over the last decade and Sri Lanka is one of our fastest growing markets – growing by 33 per cent since 2016.

Mr Dalidakis also met with key Indian business leaders including biotech pioneer Dr Kiran Mazumdar-Shaw, who was recently announced as a Victorian Business Ambassador and is already connecting local businesses with the Indian health and biotech sectors so they can expand into new markets and create local jobs.

Premier Daniel Andrews recently released Victoria’s India strategy which sets out plans to double the value of Victoria’s trade ties with India to almost $1 billion over the next decade.

Quote attributable to Minister for Trade and Investment Philip Dalidakis

“While our relationship with China is important, we need to diversify and create new partnerships throughout South Asia so that our economy can continue to grow.”

“We’re strengthening our relationships with India and Sri Lanka and through our new India strategy we will attract even more investment, more tourists and boost exports to create jobs for Victorians.”

Reviewed 19 August 2020

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