NSW businesses urged to seize new opportunities in Indian market

Austrade media release

07 Nov 2006

With Australian exports to India growing in excess of 25 per cent, opportunities for our exporters are as dazzling as any Bollywood blockbuster, a leading trade expert said.

Speaking ahead of a FREE national seminar series to be held next month, Austrade’s New Delhi-based Senior Trade Commissioner, Mike Moignard said, “India’s middle class of over 241 million with their sophisticated demands and increasing purchasing power is putting exciting new opportunities on the radar for Australian businesses.”

Mr Moignard will join a team of India-based industry specialists to provide local exporters fresh information on new sectoral opportunities, market trends and effective strategies to crack into Australia’s sixth largest export market. The FREE seminar will reach Sydney on Monday, 13 November (details below).

In 2005-06, Austrade assisted 91 NSW businesses achieve over $141 million in exports to India. Total Australian exports to India jumped to $7.3 billion from the previous financial year, but this is just the tip of the iceberg, according to Mr Moignard.

“India’s dramatic resurgence is driven by its sustained economic growth,” Mr Moignard said. “The economy is growing strongly at 8 per cent GDP, pushed along by the transformation of the Indian market.”

“About 50 per cent of India’s 1 billion strong population is under 25 years old. This demographic is driving demand for new products and services,” Mr Moignard said.

More than 200 malls are planned for construction in the next 18 months alone – making India home to the fastest growing mall development in the world. The Indian organised retail sector, which accounts only for 3 per cent ($9.3 billion) of the total retail sector, is expected to grow to over $25 billion by 2010.

Another significant growth area is infrastructure. India’s investment in airports, roads, mining, oil and gas, power and telecommunications will top $265 billion in the next five years.

“Operating in a market of this size is not without challenges, but it’s a market in which Australian innovation and expertise will find exciting new avenues for business success,” Mr Moignard said. “For example, the 2010 Commonwealth Games in New Delhi has opened up great new opportunities for our exporters.”

Other key growth sectors for Australian companies include: aviation, education, ICT, food and beverage, services, mining and resources, and travel and tourism.

Australian companies of any size wanting to learn about new prospects in the multi-billion dollar Indian market are encouraged to meet and hear from the experts.

The media is invited to attend.

EVENT: Riding the Elephant – Achieving Export Success in India
DATE: Monday, 13 November, 8.30am to 12.00noon
COST: FREE
VENUE: NSW Trade & Investment Centre, MLC Centre, Level 47, 19 Martin Place, Sydney

For more information or to register call 13 28 78.

Austrade’s Senior Trade Commissioner, Mike Moignard, is available for interviews.

ENDS

Media contact

Purnima Ganapathy
Tel: 02 9390 2319
Email: purnima.ganapathy@austrade.gov.au

For further news and information from the Australian Trade Commission (Austrade) visit www.austrade.gov.au//mediacentre.