Tapping potential trade ties
India New Zealand Business Council summit 2015, attended by a galaxy of Indian, Kiwi and Kiwi-Indian business practitioners and policy-makers, including the Prime Minister, promised to make inroads into bilateral investments between the two countries
At the India New Zealand Business Council (INZBC) summit held last week, Prime Minister John Key, on his keynote address, mentioned that cricket and Bollywood are the ultimate cogs that move India as a country.
His observation acquired further relevance given the fact that the business summit was held a day before the Indian cricket team made its first appearance in Auckland at the ICC Cricket World Cup to play against Zimbabwe.
An amicable and approachable personality, Key went on to narrate an incident from last year when the king of Bollywood, Shah Rukh Khan, was in town for a performance. Later, Key had a private dinner with Khan, when the latter asked Key for a photograph with himself. The Prime Minister obliged very willingly and Khan uploaded the photograph on his Twitter and Facebook.
A day later, Key was on a flight to another city when one of the air hostesses of Indian origin walked up to him and said very excitedly, “Mr Prime Minister, it is such a great pleasure to have you on board. In fact, it is like a dream come true.”
Naturally, Key was quite pleased by this admission, when the lady went on to add, “I saw your photograph with Shah Rukh Khan on Twitter and I am dying to know how is Mr Khan in person!”
“That day I realised what Bollywood means to Indians,” observed Key, with a smile.
It was these personal anecdotes and opinions and interactions that broke the severity of an otherwise serious business event. Person-to-person exchange of ideas and engagements seem to be at the helm. The eminently respectable names in the business delegation from India lived up to their personalities, while their Kiwi counterparts ensured the guests were suitably enthralled.
At the summit, which was attended by a large contingent of Indian, local businessmen, several New Zealand Ministers and Parliamentarians, both INZBC and the Confederation of Indian Industry (CII) promised to hold the Business Summit annually and utilize the gathering for launching partnerships.
“This is not going to be a one-hit wonder. We will continue to work together in specific fields and a number of sectors have been identified at the Summit,” Sunil Kaushal, Chairman of INZBC, adding that the people-to-people and business-to-business interactions need to deepen, while the reliance on the two governments for facilitating business growth has to reduce.
Chandrajit Banerjee, Director General of CII, proposed setting up of a core committee of business leaders from India and NZ to facilitate and monitor potential areas of partnerships. Banerjee proposed more frequent meetings between the business leaders of the two countries.
While the bilateral Free Trade Agreement (FTA) between the two countries is still being negotiated, speakers at the summit, titled: ‘Growing with India: Inspire-Innovate-Grow’, felt the need for businesses and people to connect to help growth of trade between the two countries. India and New Zealand have already established themselves as reliable trading partners; India is New Zealand’s 6th largest market, with the value of trade between the two countries touching NZD1.6 billion in 2014.
Welcoming a free trade agreement with India, Key remarked that it would help New Zealand reduce its dependence on the Chinese market, which is currently the country's biggest trading partner.
“There's a long-term risk that New Zealand could get to the point of being totally Chinese dependent and for whatever reason that relationship sours," he said.
Rupert Holborow, the Ministry of Foreign Affairs & Trade official who is leading the FTA negotiations for New Zealand, said, “it will be a tough, long road ahead” and a “considerable distance” is yet to be traversed to strike a comprehensive FTA with India.
Read our exclusive interviews with NANDAN NILEKANI (Chairman of EkStep, Entrepreneur, bureaucrat and politician), AJAY S SHRIRAM (President, CII) and REUBEN ABRAHAM (CEO and Senior Fellow at IDFC Institute)
India New Zealand Business Council summit 2015, attended by a galaxy of Indian, Kiwi and Kiwi-Indian business practitioners and policy-makers, including the Prime Minister, promised to make inroads into bilateral investments between the two countries
At the India New Zealand Business Council...
India New Zealand Business Council summit 2015, attended by a galaxy of Indian, Kiwi and Kiwi-Indian business practitioners and policy-makers, including the Prime Minister, promised to make inroads into bilateral investments between the two countries
At the India New Zealand Business Council (INZBC) summit held last week, Prime Minister John Key, on his keynote address, mentioned that cricket and Bollywood are the ultimate cogs that move India as a country.
His observation acquired further relevance given the fact that the business summit was held a day before the Indian cricket team made its first appearance in Auckland at the ICC Cricket World Cup to play against Zimbabwe.
An amicable and approachable personality, Key went on to narrate an incident from last year when the king of Bollywood, Shah Rukh Khan, was in town for a performance. Later, Key had a private dinner with Khan, when the latter asked Key for a photograph with himself. The Prime Minister obliged very willingly and Khan uploaded the photograph on his Twitter and Facebook.
A day later, Key was on a flight to another city when one of the air hostesses of Indian origin walked up to him and said very excitedly, “Mr Prime Minister, it is such a great pleasure to have you on board. In fact, it is like a dream come true.”
Naturally, Key was quite pleased by this admission, when the lady went on to add, “I saw your photograph with Shah Rukh Khan on Twitter and I am dying to know how is Mr Khan in person!”
“That day I realised what Bollywood means to Indians,” observed Key, with a smile.
It was these personal anecdotes and opinions and interactions that broke the severity of an otherwise serious business event. Person-to-person exchange of ideas and engagements seem to be at the helm. The eminently respectable names in the business delegation from India lived up to their personalities, while their Kiwi counterparts ensured the guests were suitably enthralled.
At the summit, which was attended by a large contingent of Indian, local businessmen, several New Zealand Ministers and Parliamentarians, both INZBC and the Confederation of Indian Industry (CII) promised to hold the Business Summit annually and utilize the gathering for launching partnerships.
“This is not going to be a one-hit wonder. We will continue to work together in specific fields and a number of sectors have been identified at the Summit,” Sunil Kaushal, Chairman of INZBC, adding that the people-to-people and business-to-business interactions need to deepen, while the reliance on the two governments for facilitating business growth has to reduce.
Chandrajit Banerjee, Director General of CII, proposed setting up of a core committee of business leaders from India and NZ to facilitate and monitor potential areas of partnerships. Banerjee proposed more frequent meetings between the business leaders of the two countries.
While the bilateral Free Trade Agreement (FTA) between the two countries is still being negotiated, speakers at the summit, titled: ‘Growing with India: Inspire-Innovate-Grow’, felt the need for businesses and people to connect to help growth of trade between the two countries. India and New Zealand have already established themselves as reliable trading partners; India is New Zealand’s 6th largest market, with the value of trade between the two countries touching NZD1.6 billion in 2014.
Welcoming a free trade agreement with India, Key remarked that it would help New Zealand reduce its dependence on the Chinese market, which is currently the country's biggest trading partner.
“There's a long-term risk that New Zealand could get to the point of being totally Chinese dependent and for whatever reason that relationship sours," he said.
Rupert Holborow, the Ministry of Foreign Affairs & Trade official who is leading the FTA negotiations for New Zealand, said, “it will be a tough, long road ahead” and a “considerable distance” is yet to be traversed to strike a comprehensive FTA with India.
Read our exclusive interviews with NANDAN NILEKANI (Chairman of EkStep, Entrepreneur, bureaucrat and politician), AJAY S SHRIRAM (President, CII) and REUBEN ABRAHAM (CEO and Senior Fellow at IDFC Institute)
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