Indian Australian power list celebrates NSW’s ‘secret weapon’ in unlocking the world’s fastest growing economy

With the growing importance of links to the world’s fastest growing large economy The Daily Telegraph has identified the 25 most powerful and influential Indian Australians in NSW. See the list.

Australia’s booming Indian community is the “secret weapon” that will see exports triple to $45 billion in the next decade.

With the growing importance of links to the world’s fastest growing large economy The Daily Telegraph today has identified the 25 most powerful and influential Indian Australians in NSW today.

Topping that list is NSW treasurer Daniel Mookhey who said the rapidly growing Indian community, which will outnumber Chinese-born Australians by 2031, is “our secret weapon” to Indian trade relations.

“It means that we are just way ahead of everybody, when it comes to being able to engage India, to get investment from India into Australia, but to also get Australian investment into India,” Mr Mookhey said.

“When I was walking into a supermarket in Delhi I was picking up chickpeas exported from Western NSW,” he said. “It is so amazing how much we are making an impact in that market.”

Pictured in his office at Martin Place in Sydney is NSW Treasurer Daniel Mookhey, NSW’s most powerful and influential Indian Australian. Picture: Richard Dobson

University of Queensland Chancellor Peter Varghese drafted the India Economic Strategy to 2035 that identified the importance of the community as the “living bridge with India”.

“There is no market over the next 20 years which offers more growth opportunities for Australian business than India,” he said.

Australian exports to India are expected to triple to $45 billion by 2035 and investment into India will hit $100 billion as the fastest growing economy in the world becomes the world’s largest population.

Former NSW Premier and High Commissioner to India Barry O’Farrell said India has the world’s fastest growing middle class and is an “enormous market” for Australia.

“India will be Australia’s most consequential relationship this century and as the largest state, NSW will be the major beneficiary of that,” he said.

“India has things that we want and we have things that they want. They have manufacturing for things like solar panels and electric vehicles that require the critical minerals we have in Australia.”

Mr O’Farrell said one in 26 Australians are of Indian origin and those people would be key in building those relationships. Official figures show India has been the largest source of new Australians for five years running with Indian born Australians predicted to reach 1.4 million by 2031.

Former premier Barry O'Farrell said the power list helped to identify how Indian Australians are helping shape the nation. Picture: Brett Costello

Mr O’Farrell said The Daily Telegraph’s Indian power list is “a good idea” because it identifies how Indian Australians are reaching the top in all areas of society and “acknowledges that Indian migrants to Australia are incredibly industrious.

“They don’t come in wealthy but they work really hard to grow. We see them in state parliament, on court benches and they are incredibly good citizens of their adoptive country. At any disaster you will see them supporting people,” he said.

One of the key areas of growth is in the number of international students arriving in NSW from India. Sydney University has seen a jump of 80 per cent in student numbers from India – putting it just behind China and ahead of Vietnam which has seen enrolments increase by 41.7 per cent and Indonesia at 36.8 per cent.

Vice-Chancellor and President Professor Mark Scott said those numbers would only grow over the coming years.

“India remains Australia’s largest source of skilled migrants and the second largest source of international students and we expect our relationship with India to only deepen in the years ahead,” he said.

“Research ties with India are also critical to our future relationship and there are unique research opportunities in India to work on real-world issues of regional and global significance such as climate change, food security and public health,” he said.

sisters Megha Mehta and Nidhi Mehta (both 25 years old) said they were happy the power list celbrated the links between India and Australia. Picture: Richard Dobson

CELEBRATING FUTURE SUCCESS

Megha and Nidhi Mehta, 25, were born in Pune in India and moved to Sydney’s northern beaches to study in 2018. They have embraced the multicultural opportunities the city offers.

“It’s great to see Australia celebrating festivals like Diwali, Holi, and embracing the Indian culture,” Nidhi said.

They both see the economic advantages that come from closer ties with their country of birth.

“India is a booming market, with an incredible workforce. Indians have a wealth of knowledge and diversity that always amazes me,” Megha said. “I think there could be a great partnership between the two of them moving forward.”

She echoed the views of many on The Daily Telegraph’s Indian Power List that growth in the Indian Australian population would only benefit NSW.

“As the world’s third-largest economy, India presents an opportunity for a surge in skilled workers across diverse fields in the Australian market. Greater migration opportunities and expanded working privileges would further enhance this potential,” she said.