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

 


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.

-ENDS-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news