Mumbai, September 3: Premier Chris Minns of New South Wales has emphasized the importance of strengthening trade relations with India. He stated that the current bilateral trade, exceeding $7 billion, is just the beginning of vast possibilities. New South Wales is Australia’s most populous state.
During a press conference marking the end of a business delegation’s visit to Mumbai, the Premier noted that the economies of India and New South Wales complement each other, suggesting that trade, investment, and business connections can be significantly expanded.
He highlighted New South Wales’s strong presence in mining, finance, and agriculture sectors in India, but pointed out that there are still considerable opportunities in critical minerals, education, tourism, and technology.
“We are not halfway through this relationship; we are just at the beginning,” he said. He described India as one of the fastest-growing major economies in the world and stressed that New South Wales cannot rely on just one commodity or market.
The Premier also underscored the importance of relations with Maharashtra. He mentioned the re-signing of a Memorandum of Understanding (MoU) with Chief Minister Devendra Fadnavis, stating that both states aim to prepare a joint agreement for bilateral trade expansion between Mumbai and New South Wales within 90 days.
“This is the first time a timeline has been included in an MoU, and the New South Wales government is committed to advancing it seriously,” he added.
Furthermore, he noted that Tata, a leading Indian company, is exploring significant expansion opportunities in Sydney.
Premier Minns advocated for simplifying the visa process for tourists coming from India to Australia. He remarked that Indian businesses and airlines related to tourism have been facing challenges with visa regulations for the past 18 months.
“Approximately 180,000 trips from India come to New South Wales each year, with tourists spending about 8 million nights in the state, contributing nearly $600 million annually to the economy. If an additional flight from India to Sydney starts daily, it could bring in 30,000 to 40,000 extra tourists annually, generating around $250 million in additional economic activity,” he explained.
He mentioned that expanding direct flights from India and collaborating in critical minerals will remain priorities in the future.
The Premier also discussed promoting Bollywood film shoots in New South Wales. He stated that the state’s film industry is already strong, and increasing filming opportunities for Bollywood would benefit the local film economy.
He noted that showcasing Australia’s beautiful locations in Indian films could effectively promote tourism.
During his visit to Mumbai, he mentioned observing the operations of the famous Mumbai dabbawalas, calling it one of the city’s unique experiences. He also referenced the film “The Lunchbox.”
New South Wales Treasurer Daniel Mookhey also answered questions from the press, stating that both India and Australia are ambitious and have significant opportunities in the Indian market, which comprises around 1.4 billion people.
He highlighted the growing collaboration between universities, mentioning research exchanges and campus expansions between the University of Sydney and Indian Institutes of Technology, which will deepen relations between the two countries.
He concluded that along with trade relations, education, research, tourism, and business connections will strengthen the “soft power” and economic strength between the two nations.
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