Economic trade between New Zealand and India

INZBC Summit calls for Innovation to increase bilateral economic trade between New Zealand and India.

India New Zealand Business Council has called upon businesses to be innovative as the Indian economy grows under the leadership of Prime Minister Modi. And to support this, Minister of Tertiary Education, Skills and Employment Hon. Steven Joyce announced the launch of India New Zealand Sports Scholarship.

‘Business Beyond Barriers Summit’ and Gala dinner, was hosted by the India New Zealand Business Council to celebrate its 25th anniversary, took place on 8 July at the Pullman Hotel in Auckland. Speakers included Hon. Tim Groser – Minister of Trade; Indian High Commissioner to New Zealand H.E. Ravi Thapar; Andrew Paykel of Fisher and Paykel and Peter Bull of Education New Zealand, Tim Ng of The Treasury, Paul Hunt of CMC Limited, Warren Young from Zesprie, John Monaghan from Fonterra, Clayton Kimpton from New Zealand Trade and Enterprise, Brett O’Riley from ATEED to name a few.

Welcoming the delegates, the Host and Chairman of INZBC Sunil Kaushal stated that ‘businesses need to be innovative to grow in India through partnering with local Indian partners’. “A shift in political tectonic plates” is stimulating new opportunities for the business and trade relationship between India and New Zealand, Hon. Tim Groser, Minister of Trade said at the 2014 Business Summit.

His Excellency Indian High Commissioner Ravi Thapar said that “Everything about New Zealand seems to be about generating better trade relations. [New Zealand] has mastered the techniques of how to get the best produce, land, agriculture etc.,” Mr Thapar spoke warmly about New Zealand, describing Aotearoa as an innovative land, continuing to say that “New Zealand should be branded as a country of innovation, as a country who gives a lot of importance to manufacturing”. The Free Trade Talks lead negotiator for New Zealand Mr. Rupert Holborow described the political changes in India by acknowledging that the world is watching to see what road India takes with its new trade policies, and what impact this will have on New Zealand’s trade relationship with India.

Later in the evening, New Zealand Prime Minister Rt Hon John Key was joined by Sir Richard Hadlee, Patron of India New Zealand Business Council and Ambassador for the ICC Cricket World Cup 2015. Mr Key spoke of the impact of the new Prime Minister in India, and the potential for a Free Trade Agreement, saying, ‘’I think the real challenge for New Zealand is going be being as aggressive as we can be to get an FTA with India”. His closing remarks summed up the current position of India by saying, “Change is coming to India”, change that we all observe with great hope and bated breath.

Mr Hadlee offered advice to New Zealand companies venturing into Indian markets, saying, “be committed and don’t just dabble, make the decision and just go for it. Back up your product or service with technology, expertise and some of your own staff on the ground.”

Highlights included the unveiling of the INZBC New Zealand Post stamp by the Prime Minister. The stamp design is culturally rich, displaying the words “Kia Ora” written in Hindi.

With 25 years under their belt, the India New Zealand Business Council looks towards the future with great hope and expectations for continued trade development between India and New Zealand.

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