STRENGTHENING TRADE, TOURISM AND INVESTMENT OPPORTUNITIES IN INDIA

Friday, 28 February 2020

New trade, tourism and investment opportunities were the focus of a trade mission to India this week by Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres.

 

Minister Ayres participated in the Australia India Business Exchange (AIBX) conducted by the Department of Foreign Affairs and Trade and Austrade, which included representatives from over 130 Australian businesses. In addition to AIBX there was also a strong tourism focus with the full board of Tourism Australia also in India.

 

Minister Ayres attended the Aviation Connectivity roundtable in Delhi and the Tourism Australia reception in Mumbai along with inbound operators and airlines to promote Sydney and NSW as a top destination for holidaymakers.

 

“Latest International Visitor Survey results show that India is NSW’s fastest growing inbound market over the past five years,” Minister Ayres said.

 

“From the survey period year ending September 2014 to September 2019, the number of visitors from India almost doubled while visitor expenditure in NSW grew 123.5 per cent to $429 million.

 

“The current ICC Women’s T20 World Cup and the upcoming men’s tournament in Australia this year present an excellent opportunity not only to cement this growth rate but to accelerate it.”

 

In addition to the tourism outcomes, an MOU was signed with Social Alpha to support greater opportunities for NSW and Indian start-ups to improve access to each market. Social Alpha nurtures start-ups and the Foundation for Innovation and Social Entrepreneurship (FISE) forms the core of the Social Alpha architecture, which operates through a nationwide network of technology and business incubation infrastructure sponsored and enabled by Tata Trusts.

 

Also on the agenda was the promotion of the exciting economic development precincts in NSW. There was considerable interest in the Sydney Innovation and Technology Precinct, Western Sydney Aerotropolis and Special Activation Precincts in Regional NSW.

 

With strong links already established in education, a renewed focus from the NSW Government on international engagement through the recently launched Global NSW this mission will take advantage of the immense trade, tourism, and investment opportunities being by India’s rapidly expanding economy.

 

“NSW has a clear opportunity to strengthen and diversify its international economic opportunities with India, which is why we intend to grab this with both hands.”