Trailer Magazine


Australian supply chain businesses leverage booming Indian economy

  • Posted on Tuesday 25th, February 2020.

More than 100 Australian businesses and organisations are headed for India this week as part of Australia’s ongoing push to strengthen economic and investment ties with one of the fastest growing economies in the world.

Minister for Trade, Tourism and Investment, Simon Birmingham, said the aim of the mission was to help open new doors for Australian businesses with a focus on education, tourism, health, resources, infrastructure and premium products - food, wine and beauty.

“We want to make sure Australian businesses are front and centre as India’s economy grows over the next 20 years,” said Birmingham.

“India’s economy is rapidly transforming, predicted to be the third largest in the world by 2035, and this presents huge opportunities for Australian businesses across a range of export sectors.

“India’s aspirational middle class – already 12 times the size of Australia’s population – is also growing rapidly, and now is the time to position Australian businesses so they can develop long-term relationships with Indian businesses, supply chains and investment partners.

“Australia’s premium produce, our high-quality education and tourism services and our innovative infrastructure, energy and agribusiness solutions are well-placed to meet India’s needs into the future.

“This will be an important opportunity for Australian businesses looking to pursue greater export and investment opportunities to better understand how to do business in India and to form relationships with Indian industry and government leaders.

“It’s this type of engagement, experience and knowledge that will be absolutely crucial if Australia is to realise our India Economic Strategy goal of making India one of our top three exporting markets by 2035.

“Getting the message out there that Australia is open for business and that our tourism businesses want Indian tourists to visit will also be a major focus.

“India is one of our fastest growing tourism markets and with the Women’s T20 Cricket World Cup on right now and the men’s tournament on later this year this, we will be encouraging Indian cricket fans to book a ticket, watch a few games, and also get out into our regions to explore the incredible tourism experiences on offer.”

Birmingham will also hold bilateral meetings with key ministerial counterparts during the trip, including with India’s Commerce Minister for the 16th Joint Ministerial Commission Meeting.

Australian businesses from priority sectors of education, tourism, energy and resources, and food and agribusiness will travel to New Delhi, Mumbai and Bengaluru as part of the delegation between 24 and 27 February. The visit is part of Austrade’s Australia-India Business Exchange (AIB-X), a multi-month program of events to deepen trade, investment and tourism engagement between the two countries.

India is Australia’s eighth-largest trading partner and fifth-largest export market, with two-way goods and services trade valued at $30.3 billion in 2018-19.

(Image: Minister for Trade, Tourism and Investment, Simon Birmingham.)

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