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T
APSHO
Sydney, leading Australia
on the global stage
Sydney is the gateway to Australia, one of the
world’s most economically resilient, politically stable
and globally competitive business locations.
Sydney is the capital of the Australian State of New
South Wales (NSW), whose diverse economy is larger
INVESTMENT SN
than that of Hong Kong SAR, Malaysia or Singapore and
accounts for more than one third of Australia’s GDP.
Indian companies can leverage NSW’s many strengths
to penetrate and win a greater share of global markets.
More than 200 languages are spoken in NSW. The
State’s multilingual workforce is an asset to global
companies and international project teams.
In 2008, the education system was ranked second in
the Asia Pacific for meeting the needs of a competitive
ales
economy. NSW has 11 universities, and 56 per cent of
the working age population has tertiary qualifications.
Sydney offers a large pool of highly skilled workers
at salary levels below those of other major international
business capitals. Office space is also significantly
cheaper than in Tokyo, London, Hong Kong and New
York and almost 65 per cent less than in Mumbai.
Sydney’s time zone, 10 hours ahead of GMT, spans
the closing of the North American business day and the
opening of business in Europe. Sydney’s market trades
ahead of Tokyo, Hong Kong and Singapore. Many global
companies use Sydney as part of their ‘follow-the-sun’
strategy.
Wipro, an Indian ICT company, set up a global
services centre in Parramatta, and Polaris Software
opened a facility in Sydney to conduct software testing
for Australian financial service providers.
In 2008, Australia’s economy was recognised as the
most resilient in the world for the seventh year running.
w south w
Its sustained growth has outstripped all countries
in the Organisation for Economic Cooperation and Sydney offers a large pool
Development for the past 15 years.
of highly skilled workers at
Australia ranks seventh for financial institution
transparency, seventh for its legal and regulatory salary levels below those of
ne
framework and fourth for political stability.
other major international
Companies establishing in NSW can offer their
executives an outstanding quality of life, supported by business capitals.
world-class recreational, educational and health care
services. A temperate climate, low levels of pollution and
the State’s diverse natural beauty make NSW a great Sydney and NSW are at the forefront of biotechnology
place to live. and pharmaceutical development and production in
Two Indian Banks, the Bank of Baroda and the Union Australia. Sydney is home to 80 per cent of multinational
Bank of India have established representative offices in pharmaceutical companies in Australia and 40 per cent of
Sydney over the past 18 months. Australia’s biotechnology industry.
34 INVEST IN AUSTRALIA – INDIA
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