It is that torque which at the synchronous speed of the motor under consideration would develop a power of 1 Watt.
If we say that the motor is developing a torque of 500 Synchronous Watts, we mean that the Rotor input is 500 Watts and the Torque is such that the Power Developed will be 500 Watts provided the rotor is running Synchronously the same Torque.
Rotor Input = Tsw x 2 x Pye x Ns
Synchronous Wattage of an Induction Motor is the Power Transferred to the Rotor across the Air Gap.