ITA year-end meet promises an eventful 2016
India Trade Alliance concluded 2015, its foundation year, with a year-end event that was full of promise for its prospects in the New Year. More than 50 invited guests attended the event at the offices of Price Waterhouse Coopers on Auckland’s waterfront on December 22.
New Zealand Minister for Trade Todd McClay was the chief guest. It was significant that this was his first official event and public address after his appointment the week before.
Just back after notching success for New Zealand at the WTO meeting in Nairobi, Mr McClay spoke eloquently about the country’s trade agenda, outlining the potential of deepening engagement with India as it blazes along its impressive trail of growth while also referring to the ongoing negotiations for a Free Trade Agreement.
Outlining the potential for New Zealand-India trade, the minister said, “With a GDP growth of 7.2 and with a 13% increase in FDI, India is growing fast. We already have a $580 million worth of export to India annually making it the number one trading market for New Zealand in South Asia—and all this even before we have an FTA.”
Speaking exclusively to Indian Weekender after his address, Minister McClay said, “We have $20 billion trade with both European Union and China. But we need to be careful not to concentrate on any one part of the world. We need to have a diverse approach to our trade and that is the reason why we are pursuing the free trade agreement with India.”
Sandeep Sood, Acting High Commissioner of India in New Zealand, also addressed the gathering that included two parliamentarians—National MP Jamie Lee-Ross and New Zealand First MP Mahesh Bindra.
Although he refused to be drawn into discussing a time for the long-discussed FTA, he sounded optimistic about the growth of trade relations between the countries. “It would not be right to compare [the] time taken for FTAs to be signed between New Zealand and any other country and time taken for FTA to be signed between India and New Zealand. Recent round of talks took place in February between the two countries, and I am confident that the FTA will be signed soon and it will be financially beneficial to both the countries.”
Earlier, ITA General Secretary Sunil Kaushal and ITA Chairman Giriraj Gupta welcomed guests at the event, the former detailing the evening’s proceedings and the latter briefly outlining the alliance’s activities. Price Waterhouse Coopers Partner Ravi Mehta also addressed the gathering.
Delivering his vote of thanks, ITA Deputy Chairman Dr Richard Worth, also a former National Party MP, said ITA had grown into an important forum for businesses owned by Indian diaspora in New Zealand.
“ITA is simply not offering businessmen a fuzzy social fellowship. It has much more things to offer to its members. ITA has networks in New Delhi, Mumbai and Hyderabad. With all these networks at our disposal, I think we can deliver in a measurable way real great advantages to our members,” he added.
With over 50 members under its wings, ITA has been bridging the gap between the business communities in India and New Zealand with initiatives at several levels. One such initiative is the recently launched publication, India Trade Alliance Courier.
Giri Gupta, Chairman of ITA said, “India Trade Alliance Courier, is truly a courier. It is a monthly publication, which carries business messages, know-how, ideas and proposals between the business communities of the two countries.”
The ITA’s Executive Committee met before the event to discuss the alliance’s plans for 2016.
India Trade Alliance concluded 2015, its foundation year, with a year-end event that was full of promise for its prospects in the New Year. More than 50 invited guests attended the event at the offices of Price Waterhouse Coopers on Auckland’s waterfront on December 22.
New Zealand Minister for...
India Trade Alliance concluded 2015, its foundation year, with a year-end event that was full of promise for its prospects in the New Year. More than 50 invited guests attended the event at the offices of Price Waterhouse Coopers on Auckland’s waterfront on December 22.
New Zealand Minister for Trade Todd McClay was the chief guest. It was significant that this was his first official event and public address after his appointment the week before.
Just back after notching success for New Zealand at the WTO meeting in Nairobi, Mr McClay spoke eloquently about the country’s trade agenda, outlining the potential of deepening engagement with India as it blazes along its impressive trail of growth while also referring to the ongoing negotiations for a Free Trade Agreement.
Outlining the potential for New Zealand-India trade, the minister said, “With a GDP growth of 7.2 and with a 13% increase in FDI, India is growing fast. We already have a $580 million worth of export to India annually making it the number one trading market for New Zealand in South Asia—and all this even before we have an FTA.”
Speaking exclusively to Indian Weekender after his address, Minister McClay said, “We have $20 billion trade with both European Union and China. But we need to be careful not to concentrate on any one part of the world. We need to have a diverse approach to our trade and that is the reason why we are pursuing the free trade agreement with India.”
Sandeep Sood, Acting High Commissioner of India in New Zealand, also addressed the gathering that included two parliamentarians—National MP Jamie Lee-Ross and New Zealand First MP Mahesh Bindra.
Although he refused to be drawn into discussing a time for the long-discussed FTA, he sounded optimistic about the growth of trade relations between the countries. “It would not be right to compare [the] time taken for FTAs to be signed between New Zealand and any other country and time taken for FTA to be signed between India and New Zealand. Recent round of talks took place in February between the two countries, and I am confident that the FTA will be signed soon and it will be financially beneficial to both the countries.”
Earlier, ITA General Secretary Sunil Kaushal and ITA Chairman Giriraj Gupta welcomed guests at the event, the former detailing the evening’s proceedings and the latter briefly outlining the alliance’s activities. Price Waterhouse Coopers Partner Ravi Mehta also addressed the gathering.
Delivering his vote of thanks, ITA Deputy Chairman Dr Richard Worth, also a former National Party MP, said ITA had grown into an important forum for businesses owned by Indian diaspora in New Zealand.
“ITA is simply not offering businessmen a fuzzy social fellowship. It has much more things to offer to its members. ITA has networks in New Delhi, Mumbai and Hyderabad. With all these networks at our disposal, I think we can deliver in a measurable way real great advantages to our members,” he added.
With over 50 members under its wings, ITA has been bridging the gap between the business communities in India and New Zealand with initiatives at several levels. One such initiative is the recently launched publication, India Trade Alliance Courier.
Giri Gupta, Chairman of ITA said, “India Trade Alliance Courier, is truly a courier. It is a monthly publication, which carries business messages, know-how, ideas and proposals between the business communities of the two countries.”
The ITA’s Executive Committee met before the event to discuss the alliance’s plans for 2016.
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