EVENT REPORT
2020
WWW.INZBC.ORG
Growing India - New Zealand Business Relations Since 1988
ABOUT INZBC The India New Zealand Business Council [INZBC] is the premier trade organisation in New Zealand, which has been working for over 25 years to build trade relations between India & New Zealand.Since 1988, the India New Zealand Business Council (INZBC) has promoted and encouraged trade in goods and services, investment, scientific, technical and economic cooperation between India and New Zealand. INZBC is a member-based independent organisation, not-for-profit incorporated society, which exists for three purposes: • To lobby and inform government on trade-related matters • To disseminate information and know-how on doing business between the two countries • To facilitate business development on behalf of members through leveraging networks INZBC is run by industry leaders of New Zealand, who have years of experience in this sphere, thereby becoming the key stake-holders for International Trade Development of India & NZ. INZBC has been recognised as the main industry body by both the governments of India & NZ. Almost all of the visiting delegations of Govt. of India have been hosted by INZBC, and we have organised networking events for them. With over 160 members spanning across various industries, like agriculture, horticulture, dairy, infrastructure, finance, education, tax planning, etc.; the members form the main-stay of corporate leaders of New Zealand. INZBC holds regular industry events, calling upon specialists and ministers, representatives of NZTE, MFAT,etc. for meaningful dialogues within the business community. INZBC strives to help the industry to engage, interact and grow together.
WHAT WE DO INZBC gives members a host of benefits, from more information to networking opportunities, more business ties , to getting a say with the policy makers. All this and more benefits keep adding to the INZBC members. The INZBC activities are targeted at achieving our key objectives: •
To improve market access to NZ exports and help increase the country’s GDP.
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Open up New Zealand market for Indian products and services.
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To fecilitate kiwi businesses to do investments in India and promote, ‘Make in India’.
For further information please see following links: http://www.inzbc.org/ | http://www.inzbusinesssummit.com/
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EXECUTIVE COUNCIL OF INZBC B OA RD ME MB ERS SAMEER HANDA
EARL RATTRAY
CARMEN VICELICH
MICHAEL FOX
Chair, INZBC Director, Glowbal NZ Ltd.
Board MEmber, INZBC CEO & Founder, Valocity Global CEO & Founder, Data Insight
Treasurer, INZBC Director, Dairy Link Ltd.
Board Member, INZBC Head of Communications and External Relations, Zespri International
JAY CHANGLANI
Board Member, INZBC Director, Orb 360
EX E C U TI V E TE A M SUNIL KAUSHAL
GARRY GUPTA
SANDEEP SHARMA
DR. PUSHPA WOOD
BHARAT JOSHI
SREEDHAR VENKATRAM
Head, Strategic Partnerships, INZBC
Christchurch Chapter Head, INZBC Regional Market Manager, International Relationships, University of Canterbury
Delhi Chapter Head, INZBC CEO, J-Curve Ventures Pvt. Ltd
Secretary, INZBC
Wellington Chapter Head, INZBC Director at Financial Education and Research Centre, Massey University
Mumbai Chapter Head, INZBC CEO, South Asia, CricHQ
Keep in touch with INZBC via our website: www.inzbc.org or subscribe to our newsletter, through our website. Note: Board members as on 20 Jan 2021
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OUR MEMBERS Our corporate members include the leaders in almost all industry sectors of New Zealand. Here are the current members list given in Alphabetical order. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
AB International Ltd Air New Zealand Air New Zealand Aviation Institute AIS St Helens Aium Limited AJV Services Ltd trading as AJV Global Alastair Bell Associates Alliance Group ANM Holdings ANZ Bank New Zealand Ltd ANZ Group Limited / The Shakespeare ARA Institute, [old: Christchurch Polytechnic Inst. Of Technology [CPIT] ASB Bank Ltd Ashcott Consulting Aspire2 International Atmopure Ltd. [Old: Diorella Impex Ltd] Attain NZ Auckland Council - International Relations Auckland International Airport Ltd. Auckland Univ. of Technology [AUT] AVANTI Private Limited Aveda Nutriventures Aviation New Zealand Bank of Baroda Bank of India Bank of New Zealand Bayleys, Manukau Beef & Lamb New Zealand Ltd Blossom Traders Ltd Blue Horizon Consultancy Services Ltd Blue Star Holdings Buckland Investments Ltd T/A Explorer Tours [Old: Sandhu Developments Ltd] Building Compliance and Land Development Limited Canterbury Aero Club / Intl aviation Academy NZ Cemix Ltd Cereus Holdings Ltd / MEDTECH CGB Consulting Limited Champion Freight NZ Ltd Chrysanthemum Empires Ltd Colliers International Limted Cordt International NZ Limited Cornell Institute of Business & Technology Coshha Limited
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• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
CreateOps Ltd Dairy Link Ltd Data Collection Ltd. DFK Oswin Griffiths DPDYS Management Services Eastern Institute of Technology EDEX Academy (NZ) Ltd. Education New Zealand Trust EdVantage International Consulting Ltd EIF International Ltd. Ernst & Young Ltd Estero New Zealand Limited Eureka Financial Services Export Import NZ Ltd Eye In The Sky FED and Associates Fisher and Paykel Healthcare Fonterra Cooperative Group Ltd Fundagroup Galaxy Exim Limited Giles Brooker Group Global Reach Associates Ltd Glowbal NZ Ltd GNR Accountants Limited Greenstone TV GRT Consulting LLP Guas Pak Group of Companies Hind Properties Ltd Immigration Advice NZ Ltd Immigration Advisers New Zealand Ltd Indivar Software Solutions Limited International College of Auckland International Business Alliances IRG Equity Investment Advisors Ltd IT Services Limited / New Name: Relaunch Jayen Export Consultants Limited Jenartist Consultancy Ltd Kiwi Immigration and Education Consultants Ltd Kiwiana Careers Leaders in Real Estate Legal Associates limited Level Eighteen ltd Lincoln University Liqour Barons Limited Lonrix Limited Mainland Air
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Manage My Education ltd Media Design School Ministry of Foreign Affairs and Trade [MFAT] Modtec Group Ltd Mondiale NAI Harcourts National Steel Natural Exports New Zealand Limited Naturally NZ Holidays Nauhria Reinforcing Ltd Naveen Goel Law Offices New Zealand Airline Academy Ltd New Zealand Apples and Pears Incorporated [old: Pipfruit New Zealand Inc] New Zealand Aviation [Old: Middle Earth Flying School] New Zealand School of Education [NZSE] New Zealand Tertiary College [NZTC] Newton College of Business and Technology [NCBT] NiiA Beauty and Wellness Online Courses NZ Safety Brokers NZ Trade & Enterprise [NZTE] O2O Ventures OHM Trading Pvt Limited Orb 360 [Old:Accounts Icon Limited] Otago Polytechnic Pagemark Limited Pal Productions Ltd Pathways to NZ PKG Enterprises Limited Planet Ayurveda Pricewaterhouse Coopers New Zealand (PwC) Quality New Zealand Ltd Radiola Limited Rainey Collins Wright Ltd Redesign Interior Architects Ltd Reliance Biz Services limited Relianz Group ltd RPF Engineering and Food products trading group [ Dr. Milk Ltd.] Rupex Growtech Ltd Sankalp Jagati Service Foods Ltd. Shelter Realty Limited Silk Impex NZ Ltd Simple Freight Ltd SJ Hospitality Limited Smilii Limited Southern Pastures
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Sovereign IT Solutions Limited Stamford Plaza Auckland Sterling Trade House Studyplus Consultants Limited Studywel Immigration Solutions Ltd. Sumprisa Ltd Tahi Pacific NZ Limited The Energy Collective Limited The New India Assurance Company Limited The Research Trust, Victoria University of Wellington [New Zealand India Research Institute] Tile Square Limited Toa Nutrition Tooras NZ Ltd. [Old:NZ Financial Solutions Ltd] Total Holiday Options Trade India NZ TradeWindow Ltd Transport Services and Logistics Ltd Turner Hopkins UB Freight Universal College of Learning [UCOL] University of Canterbury Valocity Global Vissma Food Consultants Vista Entertainment Solutions Ltd Waikato Inst. of Technology [WINTEC] Wallflower Advanced Digital Signage Limited Westpac Massey Fin-Ed Centre Westpac New Zealand Ltd Whitereia New Zealand & Wellington Inst. of Technology [WELTEC] William Buck Christmas Gouwland Ltd. Xano Ltd Trading as XChange Zamati Technology Zephyr Pure Air Ventilation Limited Zespri Zindia lTD. [Sounds of Forest Ltd]
Note: List of members as on 13 Jan 2021. Some new members details may have been added later in our register.
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TRADE & MINISTERIAL MISSION TO INDIA: NEW INDIA CALLS FOR A NEW NZ STRATEGY February 2020
Need to go beyond commodities into digital tech, services; writes INZBC magazine: KiaOra India, Editor Dev Nadkarni
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ew Zealand’s trade mission to India in February has greatly widened New Zealand Inc’s perspective on the plethora of possibilities and the potential for growth that exist in a new, resurgent India. The mission, jointly led by Deputy Prime Minister and Foreign Affairs Minister Winston Peters and Trade Minister David Parker, had some 15 business leaders from industries as diverse as aviation, dairy, fintech, horticulture, engineering, meat and education, besides others. New Zealand Trade & Enterprise Chief Executive Peter Chrisp and Divisional Manager South & South East Asia of the Ministry of Foreign Affairs & Trade Andrew Needs as well as other senior diplomats and officials also were part of this highprofile delegation. Minister Parker, in an interview with Kia Ora India said, “I was struck by the sheer scale of India’s economy, the number of young people and the growing confidence of India in the world and it was pretty evident that there was a tremendous opportunity for New Zealand to partner with India.” Several delegates Kia Ora India spoke to indicated that there was a need for New Zealand to think beyond commodities (New Zealand’s decades-long export staple to India like wood, dairy and meat) to adding on a wide range of services, technology, technology transfers and ideas focused on the needs of the fast-growing Indian marketspace to New Zealand’s offering.
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When the delegation presented these possibilities during their interactions with Indian businesses and officials in New Delhi and Mumbai, “The Indian counterparts were surprised and interested to learn about our expertise in other sectors,” Asia New Zealand Foundation CEO Simon Draper told Kia Ora India. New Zealand businesses have been realising for some time now that India is a country to collaborate and do business with rather than one to sell things to. Given the mismatch in their geographic and population sizes, partnership strategies that complement mutual strengths to create offerings for the vast domestic market as well as the world is a great way forward for Kiwi businesses. As well as the subcontinental geographic proportion of India and the mind-boggling numbers it presents, the country’s range of reforms make India an attractive destination for doing business as never before.
Transformative strides Over the past five years, the Modi Government has been intent on a focused and incremental clean-up of business practices, rationalisation of tax regimes and generally concentrated in making the administration business friendly, changing the perception of the country into an attractive investment destination. Those efforts have begun bearing fruit. The Ease of Doing Business global ranking has jumped 67 places, in just the past three years, to sixtythird position. The economy has been growing in excess of 7.5 per cent over the past 15 years before slowing down more recently to the current 4.7 per cent. It is forecast to grow 6-6.5 per cent in FY2021, according to the latest Budget. “One thing which came across clearly was that India is hungry for technologies, data, innovations, technical training and other services rather than just products,” Sameer Handa, India New Zealand Business Council Chairman said.
“This was also clearly conveyed by Amitabh Kant, CEO of Niti Aayog [the Indian Government’s main planning body] when we all visited their offices in Delhi,” he added. The Modi administration has earmarked resources for fostering and accelerating start-ups and entrepreneurialism across the country. This is a great opportunity for New Zealand entrepreneurs and investors to partner with young entrepreneurs with bright ideas to mentor, guide and help scale up their enterprises globally, especially in digital technologies that cut across geographical barriers. Digital transformation is poised to change every segment of India’s economy, with 550 million internet subscribers and growing, affording vast swathes of the country’s population a technological leap over many other parts of both the developing and developed world. Having overtaken the UK and France in 2019, India is the world’s fifth-largest economy with a nominal GDP of US$2.94 trillion. As for purchasing power parity (PPP), India is ranked third globally, behind only the USA and China. With a US$2.8 trillion market forecasted to grow to US$18 trillion over the next two decades and a 1.3 billion population with an average age of 29 years, it is a destination that cannot be taken lightly and one that needs a careful strategy to do business with and grow, especially for a small nation like New Zealand. Speaking in Mumbai, Mr Peters said, “New Zealand is seriously committed to investing more in India. We know we are a small country but there’s no reason why a small
country cannot be of great help to a big one and vice versa.” Currently, India is New Zealand’s thirteenth largest trading partner, with bilateral trade reaching to a new high of two way trade around $3 billion. But there’s a long way to go before coming anywhere close to the volumes the country does with China. Need for new approach “During the course of five days we had debrief meetings almost every day and everyone’s thoughts and ideas kept evolving toward a new approach to doing business with India,” Mr Handa said. The debriefs threw up a host of new ideas such as potential partnerships with local public institutions or the private sector, changing the mindset from the hitherto ‘sell to India’ to ‘partner with or add value in India’. “In this business model we seek in-country partners who take New Zealand companies up into their platforms or offerings, to mutual advantage. The key here is for these arrangements to be not only be beneficial to India, but also commercially advantageous to New Zealand participants,” says a debrief document that was shared with Kia Ora India. But with the long-pursued Free Trade Agreement (FTA) between New Zealand and India still elusive and India’s refusal to sign on to the Regional Closer Economic Partnership (RCEP) anytime soon, there is no existing framework for trade between the countries outside of bilateral arrangements.
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Speaking to media in New Delhi, Minister Parker was quoted as saying, “We know that India chose to stay out of RCEP. But if they continue not to participate in the pact then we will obviously need to pursue our trading relationship through different means.” What that will be is something which is yet to be worked out. The reasons why India has backed off from RCEP are the very ones that New Zealand or any other country doing business with India will have to be mindful of: India’s internal systems have much catching up to do with international best practice and therefore needs to protect its own industry segments against foreign competition. It is still protective of its rural sector both for political and economic reasons. That, indeed, is what has acted as a stumbling block for New Zealand’s dairy exports to India. In the words of Mr Draper, “While there is a ‘rock in the road’ when it comes to dairy, the trick is to make the ‘road wider’.” The delegation has strongly voiced the need for an India strategy, “partly as a counterpoint to the concentration risk of China,” according to one of the debrief papers. That comment was quite prescient, as it was in that very week that the news of the spread of Coronavirus in China grabbed global headlines and began to throw the world’s supply chains into disarray, as the country progressively shut down its provinces in a bid to contain the contagion. That also happened to be the week when US President Donald Trump visited India. As if competing for India’s attention was a high powered Australian delegation, again in that very same week. Undoubtedly, New Zealand needs to move quickly and consistently with whatever its rejigged India strategy is to be. It has way too much competition from countries around the world in building relationships with India. While in India, the delegation also made private sector visits, notably to Indigo Airline, one of the fastest growing airlines in the world. It has 600 planes on order on top of its 250-aircraft fleet and will need 1000 pilots, offering a big opportunity to New Zealand’s well-respected aviation training sector. Commenting on some of the outcomes of the visit, INZBC Chairman Mr Handa said, “INZBC was able to have meaningful meetings with FICCI (Federation of Indian Chambers of Commerce & Industry) and our chapter heads in both New Delhi and Mumbai. “As a result we’re now planning our next yearly Summit in Delhi in collaboration with FICCI in September 2020. Subsequent to the trip INZBC has already been approached by some of the delegates and their contacts to help them with their strategy for India market and make some introductions there.”
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Delegates react to NZ-India prospects after visiting India Three members of the ministerial delegation share their observations on the mission
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ollowing New Zealand Deputy Prime Minister and Minister of Foreign Affairs Winston Peters’ and Minister for Trade & Export Growth David Parker’s delegation to India, Kia Ora India invited three members of the ministerial delegation to share their observations and impressions with INZBC members of their visit to New Delhi and Mumbai: Geoff Allott, CEO and Director of QualityNZ, a niche supplier of New Zealand’s finest quality products and services to India focusing on the food and beverage, tourism, and education sectors. Today, premium quality Kiwi food and beverages are found in top hospitality establishments and premium stores across India. Jo Pennycuick, The Redesign Group’s Founder and Managing Director leads her multidisciplinary design practice with four office locations servicing many regions around the world. While Jo is based in Christchurch, the Redesign Group has offices in Delhi, Ho Chi Minh City and Jeddah Saudi offering innovative design solutions and technologies to clients in diverse businesses from construction to retail. Simon Draper, CEO, Asia New
Jo Pennycuick with a delegate
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Zealand Foundation, New Zealand’s most established NGO designed to equip New Zealanders to understand Asia through a programme of funding, support to media, young leaders, education, arts and Track II diplomacy. Mr Draper is a diplomat with wide international experience and is also a regular commentator for several news outlets. On the highlights of the meetings with officials in India: Geoff Allott: The importance of having senior ministers in the market was a key highlight. The meetings provided them with an opportunity to understand just how significant the Indian opportunity is (scale, breadth of opportunity, etc.), as well as highlighting the complexities that come with doing business in the market (which is important to understand). Jo Pennycuick: Opportunities for NZ businesses is extensive and we as business leaders already forged into the market need to project to the business community the importance of looking at India to invest and commit time to building business. The companies that were on this delegation have invested time and energy into developing relationships and partnerships to
Indian politician Rajeev Shukla, and Geoff Allot
deliver their products and services into India. It does take time, patience and persistence. Simon Draper: The two most important takeaways from my interactions was the generally high knowledge Indian officials had of New Zealand. Given the asymmetry in population size, Indians knew more about New Zealand than other countries I have visited. Secondly, once we moved beyond the initial concerns and fears about New Zealand dairy (which we were able to explain were unfounded) Indian counterparts were surprised and interested to learn about our expertise in other sectors. So, yes, while there is a ‘rock in the road’ when it comes to dairy, the trick is to make the ‘road wider’. On important takeaways for New Zealand businesses: Geoff Allott: New Zealand businesses need to be patient, understand the importance of relationships, and recognise that New Zealand needs to look to find niche opportunities to provide the market with value added products and services. While our countries share a lot in common, ‘cricket’ was commonly referred to and it certainly plays a massive role in our own business with the ambassadors/ shareholders we have. Jo Pennycuick: Relationship building and face to face meetings is where you will most benefit from. Specific sectors. Tech based companies are expanding greatly in India with the move to digitalise
Carmen Vicelich & Simon Draper
bank transactions and to go virtual rather than paper based. India business is relationship based and you cannot just think you can build this relationship after one meeting. Simon Draper: For the last few decades New Zealand trade policy has been built around FTAs and whilst this remains New Zealand’s goal with India as the way to quickly improve trade between us, in the interim we will have to find other ways to engage. This will take some innovative thinking on officials’ part, perseverance on New Zealand businesses’ part and long term New Zealand Inc investment. On specific sectors that are promising for India-NZ trade in the future: Geoff Allott: I still strongly believe this is a market that offers opportunities for both product and services. It is as much about the delivery model as it is about the product/service itself. You need to be efficient, direct, and ensure that the key attributes and points of difference of the product/service can be controlled with your marketing. Jo Pennycuick: The aviation sector is seeing an incredible growth with passenger rates soaring from 55 million in 2005 to 335 million in 2019. In the next 10 years there will be a need globally for 160,000 new pilots so the pilot training and simulator training needs to accommodate this. Companies such as IndiGo has purchased 100+ new airlines to support its growth. With the increase of airlines there is a need to build new airports and increase capacity in international airports. Some 130 airports tare o be built and/or refurbished. These are
only two areas that have experiential growth other than what New Zealand is renowned for – dairy and meat exports. Simon Draper: New Zealand’s size, exposure to global competition and relative isolation means that in services we are highly efficient and effective. Some of the services offered in training of pilots, aviation services, education, banking and finance systems are world class and India would be missing out not to use them. And agriculture is not just about diary – we have world class phytosanitary, food safety, traceability, horticulture, genetics and farming technology that India is going to need if it is going to be able to reliably and safely feed itself. There is enormous potential there. New Zealand wants to grow India’s agriculture sector – not undermine it. On advice to New Zealand government and companies considering India for business: Geoff Allott: Our business believes that the New Zealand Government needs to develop an overarching strategy document and commitment to India. This would result in consistent representation of Ministers to the market, further support to NZTE and MFAT officials stationed in the Market, and ultimately a commitment by the Prime Minister to visit India in the near future. The impact of that would be significant in regards to the perception Indian has of how serious New Zealand is to wanting to develop trade relations. Jo Pennycuick: New Zealand is 17 hours away from India. For companies that are looking to
expand into the market they need to look at how they can service their clients on the ground. India business is relationship based and you cannot just think you can build this relationship after one meeting. It takes time to build trust and to get the deal across the line. We have been working with some of our clients for 12 years now and they still come to us for the New Zealand way of design and management. Simon Draper: First to understand is it is a large and diverse country. Each of its 28 states is the size of an European country. So what works in New Delhi may not in Mumbai or Kolkata. Second, it will not be a China 2.0 – an FTA is unlikely to be central to the relationship initially and provide the certainty New Zealanders are used to. It will take patience, resilience and perseverance. But the rewards are there, it is a relationship with enormous potential. Other observations and comments: Geoff Allott: We’ve already been committed to India for seven years, and we see ourselves as long term players in this market. The delegation was more about supporting the fact that we had Government representation in the market and as an opportunity to network with both NZ and Indian business and potential customers. We may develop a partnership with a few of the NZ businesses that were represented on the delegation which would ultimately result in it being a great NZ Inc. story. Simon Draper: It was pleasing to see that New Zealand businesses valued the recent Asia New Zealand Foundation report India and New Zealand: Our story, our future. Moreover, both New Zealanders and Indian colleagues agreed having the relationship extended to beyond trade to cover the incredibly important people to people links is fundamental to a long, durable and sustainable bilateral relationship. This visit encouraged me that we were on the right track. INZBC Events 2020 | 11
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The kiwi and the elephant: A Relationship to be reckoned with; a view from FICCI Manish Singhal, Deputy Secretary General, FICCI (Federation of Indian Chambers of Commerce & Industry); Gaurav Vats, Additional Director, FICCI and Vaishali Sahni, Assistant Director, FICCI on FICCI’s view of the recent New Zealand-India interaction and FICCI’s recommendations on the business and industry sectors that both countries can work together to grow and mutually benefit from...
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he India and New Zealand relationship is historic. In the 1890s the first group of immigrants from Punjab and Gujarat arrived in New Zealand. There was regular trade between both the countries since the early 19th century when East India Company ships touched the shores of New Zealand. It culminated into a diplomatic relationship in 1953. To our mutual gain, this relationship has deepened significantly since then. Tourism, Education and Sporting links, particularly cricket, have played a significant role in fostering goodwill between our two countries. Though trade between New Zealand and India is poised for growth over the coming years, currently it is much below potential. Two-way trade stood at US $ 2.12 bn in 2018-19, making India the eleventh largest trading partner of New Zealand. Bilateral trade leaves much scope for improvement, both in terms of quantum and the goods traded. The ever-growing relations between New Zealand and India got a further boost during the last month when New Zealand’s Foreign Affairs Minister Winston Peters and Trade and Export Growth Minister David Parker visited India from 25-29 February 2020. The Ministers co-led a high-level business delegation to India which included companies from food and beverage, advanced solutions for India’s aviation and manufacturing sectors, ICT and technology sectors. This was the first business 14 | INZBC Events 2020
delegation from New Zealand to India since 2016. The Federation of Indian Chambers of Commerce and Industry (FICCI) plays a vital role in fostering the economic engagement between the two countries and forging new business linkages with the support of our MoU partners, the INZBC and Missions. In view of this important visit, FICCI jointly with New Zealand High Commission in New Delhi organised an exclusive interactive session with David Parker, Minister for Trade and Export Growth, New Zealand and the business delegation from New Zealand with Indian industry to explore opportunities which can help build a mutually beneficial commercial and economic relationship between the two countries. Spread over a business session comprising a stimulating panel discussion, participants were drawn from wide range of Indian businesses. The panel discussion centred around the key sectors of cooperation – Aviation and Food & Beverage. Panelists discussed New Zealand’s strength and capacity in these sectors and how it can be combined with India’s vast technology needs to build partnerships for the benefit of both the economies. Bharat Joshi, CEO, J-Curve Ventures, while moderating the panel discussion said, “Kiwi companies can leapfrog competitors, by making India a regional base for serving markets in Asia, Africa, Europe and GCC: while leveraging
FICCI recognises New Zealand as India’s important strategic partner in the Oceania region. New Zealand businesses have the innovative and intellectual capability, technology and expertise to support India’s economic development. Improvement in the bilateral investment framework can facilitate growth in the investment relationship between two countries. FICCI believes there is a need to speed up India New Zealand FTA. It will help in opening up new avenues for increasing trade. The agreement would not only address tariff barriers, but also non- tariff barriers such as sanitary and phytosanitary restrictions and other technical impediments. A joint study was done by the Indian government and New Zealand Ministry of Foreign affairs and Trade in 2009, describing existing barriers to trade and investment flows and potential economic impact of the removal or reduction of these barriers that could occur under a comprehensive economic agreement.
A recently released strategic paper ‘India 2025Investing in the relationship’ by New Zealand’s Ministry of Foreign Affairs and Trade sets out a framework for industries from both the sides to grow trade and investment relationship in the next five years with a focus on six strategic goals. In line with the same, FICCI is committed to work toward cementing long term partnerships particularly in areas such as Agriculture, Civil Aviation, Information & Technology and Tourism.
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Agriculture is an area that New Zealand has a comparative advantage with regard to agricultural technologies, supply chains and logistics, with an admirable reputation for meat, dairy, and horticultural industries. India is also one of the 15 global leaders in agricultural exports and has emerged as a major market for agricultural machinery.
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Indian talent to scale rapidly to meet global aspirations.” Addressing the gathering at the ‘India-New Zealand Business Forum’, Mr Parker highlighted that New Zealand is engaging with various states in India to provide latest technologies in agriculture, food storage and supply chain infrastructure, to reduce food wastage. New Zealand companies have started working with Indian businesses under the ‘Make in India’ programme.
Civil aviation has emerged as one of the priority sectors for cooperation and is one of the fastest growing industries in the country during the past three years. We are currently considered the third largest domestic civil aviation market in the world. The Indian government is planning to invest US$ 1.83 billion for development of airport infrastructure along with aviation navigation
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services by 2026. FICCI recommends that India should cooperate with New Zealand in areas such as airport expansion and aviation training requirements and carry out activities like exchange of experts or instructors for training, and aviation services. FICCI plays a key role in achieving greater synergies in the aviation sector. India’s Ministry of Civil Aviation, AAI and FICCI organises Asia’s largest flagship civil aviation event, ‘Wings India’ that brings all players, facilitators, and regulators of the aviation fraternity under one roof to explore opportunities together. Another emerging area for cooperation is Information Technology. India’s IT skills are globally well known. Indian technocrats have propelled many economies and are at the forefront of the software revolution. New Zealand could benefit from Indian technical expertise. New Zealand offers a strong technology ecosystem with stable, business-friendly government, with a low-compliance tax system and government funding to assist research and development, training, and international growth. FICCI recommends a collaborative approach will enable both the countries to build a more enduring strategic relationship. FICCI is proud to house the Centre for Innovation, Science & Technology Commercialisation (C Tech) that has for 15 years successfully brought together various international stakeholders in the technology, innovation and entrepreneurship ecosystem on a common platform.
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Agriculture is an area that New Zealand has a comparative advantage with regard to agricultural technologies, supply chains and logistics, with an admirable reputation for meat, dairy, and horticultural industries. India is also one of the 15 global leaders in agricultural exports and has emerged as a major market for agricultural machinery. This provides immediate opportunities for increased engagement between India and New Zealand’s agribusiness and agritech sectors. The food processing companies of New Zealand can join hands with Indian domestic players to introduce them to new technologies. People-to-people links between the two countries is one of the important pillars for fostering bilateral relations. India has been a key destination for New Zealand travellers for many decades, while New Zealand has benefited from skilled migrants, student exchanges, and rapid increases in tourist numbers from India. The number of tourists from India have more than doubled in the last five years and now exceeds 70,000 a year. There are more than 30,000 Indian students pursuing higher education in IT, hospitality and other areas in universities and private training institutes in New Zealand. Better air links – Direct flights will help not only in improving tourism but also improving trade, investment and people-to-people linkages.
Innovation – India provides enormous opportunities for collaboration being a sandbox of ‘Innovation and Learning’. There has been growing convergence but there is a need for mutual understanding which can be promoted through greater investments, trade and people-to-people contact. It is time to build on these strengths and create annual business dialogue mechanism for consultative business discussions between the stakeholders on both the sides.
Visit opens up new vistas for NZ Inc INZBC Chairman Sameer Handa, who was a member of the business delegation to India, writes his impressions of the visit.
A senior ministerial visit to India was a long time coming, with the last one being in 2016 – so it was long overdue. The February mission led by two senior New Zealand ministers to India was as important as it was momentous. It was next to Trump’s visit to India and also happened at a time when China was battling with the effects of Coronavirus. The business delegation comprised 15 business leaders from diverse industries such as aviation, dairy, fintech, horticulture, engineering, meat and education, besides others etc. Carmen Vicelich of Valocity led the business delegation.
During the course of five days we had debrief meetings almost every day and everyone’s thoughts and ideas kept evolving toward a new approach to doing business with India. One thing which came across clearly was that India is hungry for technologies, Data, innovations, technical training and other services rather than just products. This was also clearly conveyed by Mr Amitabh Kant, CEO of Niti Aayog when we all visited their offices in Delhi. The visit to Indigo Airlines head office showed us how a successful airline has grown from zero to owning 250 aircrafts with another 600 on order. That showed everyone the size of the opportunity in India.
Indigo’s Chief Executive Officer mentioned that in the next five years they will need another 1000 pilots amongst other staff. INZBC was able to have meaningful meetings with FICCI and our chapter heads in both Delhi and Mumbai. As a result we’re now planning our next yearly Summit in Delhi in collaboration with FICCI in September 2020. Subsequent to the trip INZBC has already been approached by some of the delegates and their contacts to help them with their strategy for India market and make some introductions there. INZBC Events 2020 | 17
WEBINAR IN PARTNERSHIP WITH FICCIT H E E C O NO MIC IMPACT OF COVID 1 9 O N IN D IA -N Z TR A DE 30 April 2020
In partnership with Federation of Indian Chambers of Commerce & Industry (FICCI), India. Key speakers from India and New Zealand: Mark Blackmore, Treasury NZ Ralph Hays, Trade Commissioner and Consul General, Mumbai, NZTE Manish Singhal, Deputy Secretary-General, FICCI Moderation by: Sameer Handa, Chair, INZBC Click here to watch the video 18 | INZBC Events 2020
WEBINARD I SR U P TI ONS OF G LOBA L SUPPLY C HA IN S . L EA R N IN GS A N D O P P O R TUN ITIES . 14 May 2020
Speakers from India and New Zealand: Mark Shepherd: Executive Director, Advisory Performance Improvement, EY NZ Paramjeet Singh: Second Secretary (Political, Information & Commercial Representative), High Commission of India Predimen K. Koul: Jeena & Co- DEL Country Head - Airfreight & Member Management Board Moderation by: Jay Changlani, Board Member INZBC Click here to watch the video
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WEBINAR IN PARTNERSHIP WITH FICCID I SR U P TI ONS IN T H E EDUCAT ION S ECTO R D UE TO COVID 1 9 11 June 2020
Click here to watch the video 20 | INZBC Events 2020
WEBINAR ON IN ASSOCIATION WITH PHDCCIG UI DE TO NAV IG AT ING T H E POST -COVID W O R L D TR A DE. SP OTL I GHT O N EXPORT & IMPORT R EGUL ATIO N S . 25 June 2020
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WEBINAR IN PARTNERSHIP WITH CIIC I I ’S 1ST I NDO-A SEA N-OCEA NIC BUS IN ES S S UM M IT & EX P O 4-6 August 2020
High Commissioner Muktesh Pardeshi participated in 1st INDO ASEAN OCEANIC Business Summit organised by Confederation of Indian Industry in association with India New Zealand Business Council. He spoke on new opportunities in digital economy between Indian & New Zealand and lessons from NZ in ease of doing business,
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DIGITAL CONFERENCE IN PARTNERSHIP WITH CIII N D I A - NE W ZEA LA ND BILAT ERA L ECO N O M IC A N D TR A DE R EL ATIO N S HIP 2 Sep 2020
Confederation of Indian Industry (CII) in partnership with India New Zealand Business Council (INZBC) and with support from Indian High Commission in New Zealand and New Zealand High Commission in India is organising an exclusive Digital Conference on “India - New Zealand Bilateral Economic and Trade Relationship” . Speakers: Mr David Pine, High Commissioner of New Zealand to India Mr Muktesh Pardeshi, High Commissioner of India to New Zealand
INZBC DIWALI EVENTS TR ATE GI E S FOR BUILDING A ST R O N GER N EW Z EA L A N D - IN DIA R EL ATIO N S H I P 12 Nov 2020
Focus on partnerships and collaborations to ensure business continuity in a post COVID world - this strong message of recovery was reflected in an insightful panel discussion at the first in-person event held by the India New Zealand Business Council (INZBC), in 2020. The event was held last week, on 12 November at the Westpac Head office in Auckland. Scheduled to coincide with the auspicious occasion of Diwali, INZBC, hosted the Indian High Commissioner, H.E. Muktesh Pardeshi, along with Andrew Needs, Divisional Manager, South and South East Asia Division, Ministry for Foreign Affairs and Trade; Carmen Vicelich, CEO, Velocity Global and Simon Lowe, SME Lead, Institutional & Business Banking, Westpac, for a networking event. With an opening note from INZBC Chairman, Sameer Handa, the discussion revolved around the impact and recovery of trade and business post lockdown and COVID-19. Speaking to an audience of over 50 business leaders, H.E. Muktesh Pardeshi led the conversation and elaborated on the need to reevaluate strategies to enhance economic engagement between New Zealand and India. H.E. Muktesh Pardeshi said, “A good way of looking on how to further engage with each other, is to not merely find markets, but finding partnerships, innovative partnerships. India is looking for investment, but more than investment, India is looking for collaboration in technology, innovation, best practices in areas such as ease of doing business.� His sentiment was reiterated by Andrew Needs, Divisional Manager, South and South East Asia Division, MFAT who during the panel discussion highlighted that while India is a vast and growing potential market,
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it is equally important to understand what the country wants. He said that India is looking for partnerships and capability support for its development aspirations. Andrew also went into detail, outlining the ministry’s action plan for the new government. He stated that, “the High Commission and New Zealand Trade and Enterprise are exploring how investment presence in India can be strengthened”. MFAT is looking at collaborating with industries to develop state and sectoral specific strategies for the Indian market and will be holding trade and economic talks in 2021 to try and pursue the overall India strategy. Building on Andrew’s statement on reading the market, Carmen Vicelich, CEO, Velocity Global talked about recognising the need to pivot and being agile. She gave an example of how her company, instead of growing their newest product in a bigger Indian market, is currently focused on business continuity with a launch in Australia and New Zealand. Talking about entrepreneurship during tough times, Carmen said, “You need to recognise when you need to pivot and be agile, and understand actually how to change what your plan was, to suit where you are now. Because you can’t sit and wait for things. I always picture that success is like a boat in the water - if you just sit there, thinking we’ll float till it all settles down, you’re just going to drift with the wind and the tide.” Addressing tough times, Simon Lowe, SME Lead, Institutional & Business Banking, Westpac highlighted the importance of partnerships as well as good governance during such uncertain times. He said, “Businesses that did well during the lockdown, had good existing relationships with their people but they also had good governance. Partnership is fine but you also need a good governance structure around that, regardless of the size of your business.” Simon continued on to give examples of how Westpac helped struggling small business owners pivot during lockdown. The event concluded with a Q&A session with the audience and a thanks to INZBC board member, Sunil Kaushal for his moderation.
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INZBC HOLDS DIWALI MEET FOR NETWORKING IN CHRISTCHURCH 1 Dec 2020
The India New Zealand Business Council (INZBC) held its much-awaited India Unplugged series in Christchurch at the Canterbury Club, on 1st December 2020. The event hosted dignitaries from all different parts of Canterbury and New Zealand, which included the High Commissioner of India, H.E. Muktesh Pardeshi and Mrs Pradeshi, Second Secretary Paramjeet Singh and Information and communication officer Ms Kiren Rawat. The Canterbury region was represented by Leeann Watson CEO of Canterbury Employers Chamber of Commerce, NZTE and South Island businesses. INZBC took this opportunity to host the dignitaries with the common interest of promoting trade between both the nations. Christchurch Chapter Head, Sandeep Sharma, opened the event introducing INZBC followed by video message from INZBC Chair, Sameer Handa and Ralph Hays (Trade Commissioner and Consul General for South Asia, NZTE).
Leeann Watson, CEO of Canterbury Employers Chamber of Commerce was also one of the speakers and panelists. She extended full support to INZBC local chapter and spoke about exploring ways to working together in the New Year. She also urged the traders to “include young businesses in the arena as they are the future of our nations”. The event also included a productive panel discussion between the Indian High Commissioner, Leeann Watson, Jo Pennycuick, director of Redesign Group and Lee Robinson from Canterbury Cricket. Jo shared her experience of working in India for over a decade, advising businesses to go to India for “the right reason and with a long-term commitment to the market”.
Lee Robinson, spoke about the development of the Hagley Oval in Christchurch into a first class international cricket ground to help build people Muktesh Pardeshi in his keynote to the audience to people contact. The evening came to a closing emphasised on “moving beyond transactional with Robert Barker, Ex-Chairperson of INZBC business to forming partnerships with Indian giving closing remarks and vote of thanks. companies”. He also mentioned about the importance of people-to-people partnerships for success of trade between India and NZ. 26 | INZBC Events 2020
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