By NOEL MURPHY
INDIAN business interests could invest up to $300 million in the Geelong region under an India Australia Strategic Alliance initiative.
Delegations to Geelong have been investigating agricultural opportunities across the district but also manufacturing, automotive, property and other entrepreneurial possibilities.
The India Australia Strategic Alliance (IASA), set up to develop business partnerships between India and Australia, has been lobbying hard in state and federal political circles.
The alliance has garnered support from federal Employment Minister Senator Eric Abetz and Indian Industry Minister Madan Mohan.
Alliance chair Dr Jagvinda Virk believes Geelong could draw Indian business investment worth between $200 million and $300 million.
Mayor Darryn Lyons confirmed the Indian interest after meeting a 17-member IASA delegation, led by Dr Virk.
Cr Lyons first flew to Sydney at his own expense to lure the delegation to Geelong, he told the Independent.
“It’s still in early stages at the moment. We’ve had a couple of meetings and we are organising delegations as we speak.”
Dr Virk said IASA regularly hosted delegations to Australia from every state in India.
“My focus is always to get small cities on the map and what we’re planning is every month we bring a delegation from different parts of India – we do two days in Sydney, then one in Geelong, one Melbourne and one in Tasmania,” Dr Virk said.
“The first delegations were getting two people, four people, now we bring delegations of 20, 30, 40 people from every state in India.
“Northern states are interested in agriculture, Delhi in manufacturing, Bombay in garments, shipping. Every state has a different portfolio of interests.”
Alliance property advisor Manpreet Dandiwal suggested Indian nationals could invest in $300 million worth of property around Geelong in the next three years.
“We’ve seen sales of $150 million in Wyndham in the past one and a half years,” Mr Dandiwal said.
“Three hundred million in three years is quite realistic for Geelong – there are big companies looking to invest.
“Geelong is a great spot and a lot of Indian already live in Wyndham. Geelong is not far away and they don’t feel they’ll be living far from each other.
“Indian people will move to Geelong rather than than southeast suburbs because they’re almost all in Wyndham already.”
Mr Dandiwal said Cr Lyons generated the Indian interest in Geelong.
“It’s all thanks to the mayor, Mr Darryn Lyons.
“Obviously he wants this town to grow and the confidence he delivers to investors is very good. He wants development to happen and that’s the main reason Geelong is an attraction.”
Dr Virk has appointed Cr Lyons an ambassador of IASA, calling him a “visionary leader”.
