India was Australia’s fifth-largest export market and our two-way trade totalled AUD 45 billion
“Australia has become an increasingly important business destination with data from FCM Travel globally showing more than 40 pc increase in business travel bookings from India to Australia,” says Sunny Sodhi, Managing Director, FCM Travel India.
In a press statement, FCM Travel India chief says that India is an important trade and investment partner for Australia, with India’s economy growing at an average of 6 pc per year, making it one of the fastest growing economies in Asia.
“In the financial year 2022-23, India was Australia’s fifth-largest export market and our two-way trade totalled AUD 45 billion.
India’s growth creates opportunities for Australia’s goods and services, including agricultural products, minerals, resources, education, and skills training. It also affords new two-way investment pathways, such as renewable energy,” adds Sodhi.
The growth in business ties between the two countries has also seen a corresponding rise in corporate travel between India and Australia, says the statement.
Sunny Sodhi
“Business travel in India has seen unprecedented growth of 24.7 pc in 2023 and shows no signs of slowing down with experts anticipating an additional 18.3 pc increase in 2024,’’ says Sodhi.
The growth in business travel between India and Australia is also equally represented in the MICE and Events travel segments, says FCM Travel India.
“FCM Meetings and Events India has seen a more than 30 pc growth in MICE enquiries, with incentive trips making a comeback.
Indian corporates’ enthusiasm for exploring Australia as a premier MICE destination is fuelled by improved direct and one-stop aviation connectivity, the speed and ease to secure a business visa, world-class convention facilities, with over 20,000 new hotel beds and money-can’t-buy experiences involving Australian cricketing legends and MasterChefs,” says Sodhi.
