NSW businesses seeking trade and investment opportunities with emerging economic powerhouse India, will have the benefit of a dedicated NSW trade and investment hub, with the opening of the NSW Government Office Mumbai in the thriving city’s Bandra Kurla Complex business precinct.
NSW Premier Dominic Perrottet today officially opened the new Mumbai office solidifying the state’s on-the-ground presence aimed at promoting NSW exports, boosting investment and welcoming Indian students and tourists back to the state.
“Our strong relationship with India is underpinned by shared values and interests, and today marks the beginning of an exciting new chapter of trade and investment relations between India and NSW,” Mr Perrottet said.
“India is a key Indo-Pacific partner to Australia and an economic juggernaut. NSW is proud to partner with India’s government and business community to drive greater prosperity for the people of our two nations.”
“Increasing NSW’s trade presence here will ensure our state is front of mind as India continues its economic rise. Today we open up a world of trade and investment opportunities for NSW businesses and workers.”
In 2020-21 India was NSW’s third-largest source of international students, sixth largest source of tourists and 11th largest two-way trading partner, with two-way merchandise trade reaching $4.6 billion.
Minister for Enterprise, Investment and Trade Stuart Ayres said the office will work to deliver direct benefits for NSW by attracting Indian investments in NSW, helping boost business opportunities to benefit the local economy.
“India is NSW’s most important business partner, with significant export opportunities across a range of sectors including food and beverage, education and edtech, health and medtech and technology,” Mr Ayres said.
“We have been working closely with our local businesses to support their export and expansion to India and these efforts will be boosted by the opening of the Mumbai office.”
To boost awareness of Investment NSW’s presence in India, a new strategic marketing campaign is now live, operating across digital platforms including LinkedIn and in print in India’s leading daily newspaper The Economic Times.
Vish Padmanabhan, NSW’s Senior Trade and Investment Commissioner to India and the Middle East, said his team will help NSW businesses take advantage of the new Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) bilateral trade agreement.
“I’m honoured and excited to lead this office and team during a time of great opportunity for the state.
NSW is eager to grow its trade and investment with India under the AI-ECTA agreement – an interim step towards a full free trade agreement, which will benefit our food and agribusiness, mines and minerals, technology and education sectors significantly,” Mr Padmanabhan said.