South Australia has welcomed Indian business leaders from around the world as international think tank, Horasis, holds its first-ever meeting in Adelaide as part of a collaborative partnership between Invest SA and Business SA.
With the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) that came into effect in December 2022, removing tariffs on a vast majority of exports, there are significant collaboration and partnership opportunities for South Australia and India.
India is a vital export destination for South Australia, with exports up 11 per cent to $1.1 billion to the year ending September 2023. A surge in lentils (up 231 per cent to $505 million) and almonds (up 770 per cent to $10 million), sees India as the state’s fifth largest export market.
The three-day trade and investment conference at Adelaide Convention Centre, follows Minister Champion’s first trip to India where he spruiked South Australia’s world-leading credentials in defence, space, hi-tech, renewables, hydrogen, cyber technologies and wine.
The conference brings together highly influential groups of business leaders from around the world to discuss collaborative approaches to addressing sustainable growth and Indo-Pacific economic opportunities.
“In the face of environmental and economic challenges met by the Indo-Pacific region, the time has come for its leaders to assemble, with the prospering City of Adelaide being the centre for this dialogue,” said Dr Frank-Jurgen Richter, Horasis Founder and Chairman.
“Only by working together will we be able to inspire our future and address unprecedented environmental and economic challenges.”
Speakers and panel members include Ashishkumar Chauhan, Managing Director and CEO at the National Stock Exchange of India; Ramakrishnan Mukundan, CEO Tata Chemicals; Tim Thomas, CEO Centre for Australia India Relations; Jodi McKay, Chair of Australia-India Business Council, Girish Ramachandran, President Asia-Pacific, Tata Consultancy Services in Singapore; as well as Australian leaders including Barry O-Farrell, former Premier of New South Wales; Michael Knox, Chief Economist at Morgans Australia and Sanjeev Gandhi, CEO Orica Australia.
There will be two days of dedicated programming focused on innovation and development of sustainable emerging markets with a particular focus on the facilitation of meeting with Indian innovators and entrepreneurs to explore new ventures that are mutually beneficial, using Adelaide as a hub to invest in Australia and the Indo-Pacific. Topics will centre on issues including repositioning India and Australia as technological and business hubs, enhancing trade relations, addressing potential skill deficits across the Indo-Pacific region, furthering ESG in enterprises and accelerating recovery, growth and transition.
The third day of the conference will provide delegates with the opportunity to observe first-hand the innovation and development of sustainable business in South Australia through a tour of the state’s leading innovation locations.
“Horasis events are world-class and attract leaders operating at that level,” said Andrew Kay, CEO Business SA.
“We will be able to showcase local business and investment opportunities to influential groups from one of the world’s fastest-growing economies.
“We are thrilled to be working with Invest SA and the team at Horasis to bring this unique opportunity to South Australia.”
Formed in Zurich in 2005, Horasis is the brainchild of Dr Frank-Jurgen Richter and is dedicated to the innovation and development of sustainable emerging markets. Horasis holds flagship events around the world, such as Horasis Global Meeting and regional summits focusing on China, India and South-East Asia, all of which are focused on helping companies in emerging and developed markets to tap into global markets.
The Horasis India Meeting has been timed to attract key businesspeople who have travelled to Adelaide for the VAILO 500 race being held from 23 to 26 November. In 2022, more than 250,000 people descended on the city for the four-day event which generated a record $51.85 million benefit to the South Australian economy.