Queensland’s billion dollar Bollywood bid
QUEENSLAND will try to lure Bollywood blockbusters to film here as part of a push to boost trade with India by $1.5 billion over the next five years.
The Palaszczuk Government will today launch a strategy to strengthen ties with the world's fastest-growing economy.
"India is Queensland's third-largest merchandise export market. That's why it's crucial we have a tailored trade and investment strategy to build our successes in this market," said Innovation and Tourism Development Minister Kate Jones, who is on a trade mission to the subcontinent this week.
Queensland sold more than $9.8 billion of goods to India in 2017, with coal accounting for two-thirds of exports.
"New data released today shows with this strategy, we can expect to boost exports to India by 15 per cent over the next five years - that's a $1.5 billion injection to the state's economy," Ms Jones said.
Tourism is one of five sectors identified with strong growth potential and the blueprint says attracting Bollywood productions to the Gold Coast could be a key factor in bringing visitors.
"Bollywood prefers shooting films abroad due to government approvals, public interference and security issues for celebrities compared to shooting in India. Last year Bollywood shot in 60 countries, but not Australia," the strategy document says.
"Bollywood's international shoot locations are one of the key influencers of Indian tourists' destination choices."
Indian travellers are among the world's highest spending, splashing out four times more than Japanese or Chinese tourists. A growing middle class is seeking experiences including destination weddings and adventure tourism.
QUEENSLAND'S MAJOR GOODS EXPORTS TO INDIA
1. Coal $7.3 billion
2. Vegetables/fruit $434 million
3. Mineral ores $54 million
4. Textile fibres $29 million
5. Machinery/equipment $13 million
Queensland does not yet have any direct flights to Indian cities and, while the 76,000 visitors to the state last year was up 33 per cent, Sydney and Melbourne attracted four times more.
India is already the second-biggest source of international students in Queensland with 11,700 enrolments last year. However, the potential growth is enormous with the country set to have the world's largest millennial population by 2020.
The strategy says Queensland can also partner to deliver education and training in India, where there is a target of training 400 million people by 2022.
In addition to exporting coal, Queensland's world-leading mining equipment, technology and services sector can help India develop its own resources industry.
Changing consumer trends will boost demand for Queensland's premium food products while expertise and technology developed here can support sustainable farming practices in India, the report says.
And with India's healthcare market expected to grow to US$280 billion within two years, there will be opportunities for Queensland's research expertise, telemedicine and consultancy services for hospitals, health and aged care facilities.
India is currently the world's fourth biggest economy at $3.5 trillion. It is forecast to overtake the United States and European Union by 2050 to be the second largest behind China.