NSW supports strategy to trade with India

Media release | 13 July 2018

Minister for Trade and Industry Niall Blair has welcomed the Turnbull Government’s release of the India Economic Strategy to unlock new economic opportunities for Australia and India through to 2035.

“India is emerging as a regional economic powerhouse with a clear economic reform agenda providing significant potential for NSW trade and investment opportunities.

“With India’s big push to upgrade infrastructure and build smart cities, NSW is in a fantastic position to deliver professional services to support this demand.

“Also the emphasis the Indian Government has placed on sustainable development creates opportunities for NSW in sectors including energy and resources, agribusiness, and food,” Mr Blair said.

Trade of goods and services between NSW and India is worth about $1.8 billion annually including coal, metals and textile fibres as well as education.

In April, Premier Gladys Berejiklian announced during a trade mission to India a two-year $1.58 million partnership between NSW and India to boost the State’s startup, technology and advanced manufacturing sectors. India is widely recognised as a global ICT powerhouse, with tech hubs in major centres such as Bangalore, Hyderabad and Mumbai.

“As a result of this partnership, just last month eight NSW fintech startups attended an intensive one week business development program in India with NSW Government support,” Mr Blair said.

“These companies are already leveraging the experience to boost their business and this is just the first of many such programs that will promote links between our tech sectors to support growth and development of both.”

In September, up to 30 NSW food and beverage companies will join a trade delegation to India, showcasing the State’s produce to Indian suppliers at the Annapoorna World of Food India show in the NSW sister-state of Maharashtra.

“This visit will provide NSW with further opportunities to sell our world class produce and strengthen our strong economic relationship with India,” Mr Blair said.