Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


INZBC builds confidence for doing ‘Business Beyond Barriers’

7th February, 2014

INZBC builds confidence for doing ‘Business Beyond Barriers’

The food processing industry in India, with a growth of 13% per annum, emerged as one of the most lucrative industries for Kiwi investment in India, in the ‘Business Beyond Barriers’ seminar held by INZBC. This came as part of Dr. Devi Singh’s submission to the audience of industrialists and international business experts at the seminar held at PwC towers on 3rd Feb.

Clayton Kimpton, Regional Director – India Africa & Middle East for New Zealand Trade & Enterprise (NZTE) and Dr. Singh, were speaking at the first part of this series held on Monday, at the PWC towers, Auckland. Their focus was on removing the myths of international business and talking about the hidden opportunities in trade with India.

Dr. Devi Singh is the Director of India’s premier management institute, Indian Institute of Management (IIM) Lucknow. He is currently serving his second term as Director of the Institute, and is a well-known Professor in the area of International Finance & Management.

Dr. Singh reiterated that India has high volumes of production in food, livestock and dairy. However the gap is in the lack of infrastructure in food processing, storage and transportation. Due to which a big proportion of products are lost before it can be bought by the consumer. This area is of great value proposition to the Kiwi companies looking for opportunities to expand in India.

“Although the overall food situation in the country has undergone drastic changes, from recurring scarcity to a food surplus situation today, the Public Distribution System – the backbone of household level food security – continues more or less unchanged since its establishment”, said Dr. Singh elaborating on the gap that needs to be filled.

Clayton Kimpton, the Regional Director at New Zealand Trade & Enterprise (NZTE) also spoke at the event. He cautioned New Zealand companies that India was a market for the long term and not for gains in the short term. Clayton said that recently there has been a fall in the India-NZ trade due to the sharp rise in the value of the rupee and thus it was important to diversify trade from just primary to other sectors. He said, “Kiwi goods and brands should be seen as a premium product and not be competed against the local products that may be cheaper in price.”

Mr. Kimpton encouraged prospective investors to get in touch with the NZTE team, who has experts operating from the Delhi and Mumbai offices. They can better guide the New Zealand companies in the right markets and help Kiwi’s get a better understanding of the Indian business scene.

Keeping in with their aim of building business relations between India and New Zealand, the India New Zealand Business Council (INZBC) has started a series of lectures, in that direction.

“The main purpose of this event is to get the industry moving from both sides of the world”, said Sunil Kaushal, Chairman, INZBC. He said that the organisation is planning more events like these that will help introduce the kiwi businesses with the opportunities and challenges of doing business with India. Getting experienced and knowledgeable speakers from India, like Dr. Devi Singh helps the interested parties to hear from the horse’s mouth, as it were.

With a good participation and an engaging discussion, the attendees liked the event and would be looking forward to more meaningful engagements like this one.

About INZBC
Since 1988, the India New Zealand Business Council (INZBC) has promoted and encouraged trade in goods and services, investment, scientific, technical and economic cooperation between India and New Zealand. INZBC is a member-based independent organisation, not-for-profit incorporated society, which exists for three purposes:

• To lobby and inform government on trade-related matters
• To disseminate information and know-how on doing business between the two countries
• To facilitate business development on behalf of members through leveraging networks

www.inzbc.org

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

The Price Of Cheese: Cheddar At Eight-Year Low

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent. More>>

ALSO:

Financial Advisers: New 'Customer-First' Obligations

Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news