Don't wait for FTA before acting on India: Kaushal 5 Mar 2015
Related articles
- NZ consumers grow more upbeat, may resume spending Business
- Minister launches SmartGate in Wellington Travel
- Prime Minister to travel to South Africa News
- New Zealand-Russia begin FTA scoping discussions News
- Knowles quits as CEO of KiwiBank Business
- NZ migration bolstered by British invasion Migration
- Sludge Report #192: The Naked Budget Columns
- Budget 2010 – Building the Recovery News
- NZ manufacturing activity reaches highest since 04 Business
- NZ dollar hits 22-month high vs euro Business
Don't wait for FTA before acting on India, says India-NZ business council chair
By Pattrick Smellie
March 5 (BusinessDesk) - New Zealand companies looking to do business in India should move beyond a mutual love of cricket and not wait for a free-trade agreement before seeking opportunities in the fast-growing Indian economy, says Sunil Kaushal, chairman of the India-New Zealand Business Council.
"While much of the focus is on the prospect for a free trade agreement with India, waiting for its conclusion before acting risks missing the boat," Kaushal said in a statement ahead of the council's second India-New Zealand Investment Summit in Auckland on March 13.
The one-day summit will see a 40-strong delegation of senior Indian business people in Auckland for the event, including Nandan Nilekani, co-founder of software giant Infosys, Reuben Abraham, chief executive of the influential IFDC Institute think-tank, and Jaya Kumar, chief executive of animated films firm Toonz, which is establishing operations in New Zealand.
The two countries were "natural allies", said Abraham in a statement on the summit, which has sold out and will be addressed by a range of government ministers, including Prime Minister John Key. The two countries had common interests that "start with cricket and a shared language, but ought to be much more substantive."
While negotiations for a bilateral FTA with India began in 2011, they stalled under the previous Indian government and were revived only last November during a trade mission to India led by Primary Industries Minister Nathan Guy, with the 10th round of negotiations between trade officials concluding last week.
Two-way trade between the two countries is relatively small, at around $1.1 billion, making India New Zealand's 15th largest trading partner, despite having a population almost as large as that of China, which is New Zealand's largest trading partner at over $20 billion, following explosive growth in two-way trade since the signing of an FTA in 2008.
However, India's democratic and protectionist traditions, along with a large domestic dairy sector, make it a more difficult prospect for FTA negotiations.
Kaushal warns too that New Zealand firms wanting to do business in India should not be over-reliant on a mutual love of cricket to open doors to commercial opportunities.
"While the Cricket World Cup is the reason we are holding the summit now, one of the themes for this meeting is the urgent opportunity for New Zealand and India to move to a much deeper bilateral trade and investment relationship."
(BusinessDesk is media partner for the 2015 India-New Zealand Business Summit.)
(BusinessDesk)
News
Hilary Timmins' Award-Winning UK Documentary Series To Inspire NZ Students
29 Jun 2020 Education
Dream Catchers, produced and directed by Hilary Timmins, celebrates the success stories of more than thirty inspirational New... more
New Zealand reaffirms support for Flight MH17 judicial process
7 Mar 2020 News
Ahead of the start of the criminal trial in the Netherlands on 9 March, Foreign Minister Winston Peters has reaffirmed the need to... more
Business
NZ Government's Economic package to fight COVID-19
17 Mar 2020 Business News
The Coalition Government has launched the most significant peace-time economic plan in modern New Zealand history to cushion the... more
NZ Government announces aviation relief package
19 Mar 2020 Business News
Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier... more
Living
Diversity was Key at New Zealand Trade Tasting in London
6 Jun 2022 Food & Wine
New Zealand Winegrowers Annual Trade Tasting was recently held in London, on Wednesday 4 May, in Lindley Hall.
It was the first... more
Kiwi author stuns Behind the Butterfly Gate
12 Jan 2022 Arts
Hidden behind the Butterfly Gate is where the secret has been kept for 76 years...
New Zealand writer Merryn Corcoran’s... more
Property
Fairer rules for tenants and landlords
17 Nov 2019 Property
17 NOVEMBER 2019
The Government has delivered on its promise to the over one million New Zealanders who now rent to make it fairer... more
New Zealand Government will not implement a Capital Gains Tax
17 Apr 2019 Property
The Coalition Government will not proceed with the Tax Working Group’s recommendation for a capital gains tax, Jacinda Ardern... more
Migration
Boosting border security with electronic travel authority – now over 500,000 issued
19 Nov 2019 Migration
19 NOVEMBER 2019
We’ve improved border security with the NZeTA, New Zealand Electronic Travel Authority, which helps us to... more
Christchurch reinstated as refugee settlement location
18 Aug 2018 Migration
18 AUGUST 2018
HON IAIN LEES-GALLOWAY
The announcement that Christchurch can once again be a settlement location for refugees... more
Travel
Gallipoli Anzac Day services cancelled
19 Mar 2020 Travel & Tourism
The New Zealand and Australian Governments have announced this year’s joint Anzac Day services at Gallipoli will be cancelled... more
New Zealanders advised not to travel overseas
19 Mar 2020 Travel & Tourism
New Zealanders advised not to travel overseas
more
Sport
The Skipper's Diary: Sir Richard Hadlee honouring his father and NZ's Forty-Niners
27 Oct 2019 Cricket
NZNewsUK London Editor Charlotte Everett spoke to Sir Richard Hadlee about why he’s chosen to publish his father’s... more
PREVIEW: All Blacks v England semi-final
26 Oct 2019 Rugby
The two most convincing quarterfinals winners are set to square off in a semifinal showdown for the ages when the All Blacks meet old... more
Columns
Gordon Campbell on the Gareth Morgan crusade
11 Nov 2016 Opinion
Gordon Campbell on the Gareth Morgan crusade
First published on Werewolf
The ghastly likes of Marine Le Pen in France and Geert ... more
Gordon Campbell on the US election outcome
10 Nov 2016 Opinion
Column - Gordon Campbell
Gordon Campbell on the US election outcome
Well um.. on the bright side, there (probably)... more
Kiwi Success
Congratulations to Loder Cup winner
26 Sep 2018 People
25 SEPTEMBER 2018
The Loder Cup, one of New Zealand’s oldest conservation awards, has been awarded to Robert McGowan for 2018... more
Appointments to New Zealand National Commission for UNESCO
16 Aug 2018 Appointments
16 AUGUST 2018Appointments to New Zealand National Commission for UNESCO
HON JENNY SALESA
Associate Education Minister Jenny Salesa is... more
Recruitment
Historic pay equity settlement for education support workers
14 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more
Historic pay equity settlement for education support workers
22 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more