Hi Manish:

Product managers typically are for organisations that produce software. There isn't a large demand in AU for that as there are for other types of IT skillsets (especially the project managers). What I would do is first make a list of your tech skills (and that means solid and demonstratable tech skills) and then do a search on sites like: careerone.com.au and company websites. Nearly all large software companies do have a presence in AU (i.e. SUN, HP, IBM, Oracle, etc.) so look at their respective websites and you will likely find a match to your skillset.

Note that most companies would look at those with PR and are not necessarily interested in sponsering someone, but again it doesn't hurt to try.

The majority of product manager types of jobs will be concentrated in Sydney and Melbourne as that is where you get most of the MNCs.

Best of luck