Tapping India’s market footprint

INZBC Press Release
31 March 2014
For Immediate Release
Tapping India’s market footprint

“Two ends of a book’, is how Peter Dunne, Minister of Internal Affairs, described the ties between NZ & India. He was speaking at India New Zealand Business Council’s seminar, ‘Business Beyond Barriers’, at Grant Thornton, Wellington. Mr. Dunne reiterated the need for increased economic, cultural and sporting ties between the two countries.

The India New Zealand Business Council held it’s second chapter of series of seminars – ‘Business Beyond Barriers’, on 26th March, 2014. The key note speakers were Hon. Peter Dunne (Minister for Internal Affairs) and H.E. Mr. Ravi Thapar (Indian High Commissioner to NZ).

Welcoming the High Commissioner, Minister and the members, the Chair Sunil Kaushal, shared how the members have been continuing to expand their business ventures into India without a FTA being signed between both the countries. “FTA is just one of the tools to increased trade and not the only tool”, said Sunil, stressing that more focus should be towards moving on with trade to be done between businesses in NZ and India.

Hon Peter Dunne also congratulated the INZBC for working tirelessly to increase these relationships between India-NZ businesses. He said it was important for NZ to recognise the potential of the Indian economy and work to have closer ties.

On this occasion, the new Indian High Commissioner was also facilitated by INZBC Chair and Treasurer upon his appointment. Mr. Ravi Thapar has taken over the office of the High Commission in early January this year and is since then meeting crucial people and organisations that can make a difference to the bi-lateral relations. All indications show that he means business.

Mr. Thapar shared insights about various fields that India-NZ can collaborate, to tap into the strengths of both countries. “We should work with the positives of both sides, like taking NZ's IP and using India's market footprint”, said Thapar, while reiterating that India’s market footprint is huge and creates great potential for NZ companies to work with.

Taxation in the vast Indian market can be very complicated and can sometime be a daunting task says Greg Thompson, National Director, Tax at Grant Thornton NZ Ltd, who gave a brief overview on the footprint of Grant Thornton in India.

Closing the talks, Bhav Dhillon treasure of INZBC called upon the members to continue to explore the emerging Indian market and seek guidance from agencies such as INZBC and NZTE.
This was the second chapter of talks with policy makers and business leaders that INZBC organises for the benefit of its members and industry in general.

Earlier INZBC members also called upon the Indian High Commissioner at his office in Wellington and discussed at length on collaborative areas between both the countries. Aviation, Education, IT, Agri were some of the sectors that were discussed including the need for a direct or code share flight between both the countries which will enhance tourism and trade.

INZBC Chair, Sunil Kaushal said, “these sessions are important to bring the industry and policy makers closer, for better understanding of each other’s needs. This is one of the main goals of INZBC, which we as an organisation are working towards.”

“INZBC is working towards more such events in the future, that will help the bi-lateral trade”, said Sunil.

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