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

 

Solutions in Logistics for Trade with India

PRESS RELEASE

20.11.2017

INZBC’S INDIA UNPLUGGED OFFERS SOLUTIONS IN LOGISTICS FOR TRADE WITH INDIA.

INZBC recently conducted a workshop on dealing with various logistical issues, while doing trade with India. Industry experts from DHL Global Forwarding and TMF Group presented their solutions for existing importers and exporters to India.

“India is a tremendous area of potential growth for New Zealand trade, and we are very encouraged by moves to bring forward an FTA between our two countries to reduce barriers to trade including duty”, said Glenn Coldham, Head of Customs in NZ, DHL Global Forwarding.

Glenn gave his views on the various challenges around customs in the trade with India. He said, “At times we do experience inconsistencies with moving sea and air shipments out of India due to the complexities of documentation and associated approvals to allow cargo to move without delay.”

“However, it is very pleasing to know India has started to reduce that complexity with the new GST introduction as part of those improvements”. Glen expressed his positivity on the changes being introduced in the Indian market.

TMF Group’s, Company Secretary, Siddhartha Sharma also gave a presentation on the challenges and opportunities on opening a new office / company in India.

Siddhartha expressed his views on the potential of the market and said, “India is a very large and attractive destination for companies intending to expand their markets internationally and businesses have the option to enter the Indian market either with or without direct investment.”

“There are a number of very flexible structures that can be used i.e. Branch office or representative office right through to incorporating a private or public company and this will depend on the business’s operations and vision. Recent Government moves to put more of the compliance processes online and provide a fast track route to incorporation have lessened historical complexities but it is crucial to have the right service provider to assist you with your Indian set up and operations.”

However he reiterated that the documentation requirements are still substantial, rigid and complex. They provide a host pf services to help clients in this direction.

Siddhartha was representing the TMF Group, which is a provider of essential corporate services.

“TMF operates in more than 80 countries and has six offices in India. We can help you move your business seamlessly across borders by lowering the compliance and costs risks of such an international move and providing you with ongoing support once you’re established in India,” said Siddhartha.

The newly appointed Honorary Consul of India, in Auckland, Bhav Dhillon was also felicitated on this occasion, by NZTE India market head, Maria Gray. Bhav spoke to the attending companies and gave an overview of the positive changes being brought about by the Modi government, in India.

“With the implementation of the new GST regime in India, the country can now boast of One Country, One Tax. There is still differentiation in product categories. With the onset of the digital economy and progress in e-registration of companies, now it’s becoming even easier for companies to do business with India. This was reflected in the fact that India has leaped 30 spots to the number 100 spot, in the World Bank's latest global ranking on Ease of Doing Business,” said Mr. Dhillon.

INZBC board member, Sameer Handa informed that India Unplugged as a series is aimed to help and educate the market on doing trade with India.

“This session has been a success, as many businesses have time and again expressed their difficulty in understanding the customs and logistics issues with Indian market. Our industry experts have helped in dispelling some myths around this. We hope to continue our endeavor in educating the market with workshops like these”, said Sameer.

The workshop was held at the NZTE office in Auckland, on 15th November 2017.


www.inzbc.org


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>



Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>