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

 


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.

-ENDS-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news