Spotlight on Services Sector
Can Services Sector Enhance Trade Ties? To achieve an optimal benefit from a trade partnership between New Zealand and India, the service sector where exponential growth is possible and has great untapped potential. In this article, Chandan Ohri explores the role of the services sector in enhancing New Zealand-India trade ties.
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ew Zealand and India share a rich cultural Since this sector is moving more towards a technologyheritage with continuous year-on-year growth intensive initiative, New Zealand companies that are in in trade with goods as the education space can potentially the mainstay with vast achieve substantial success. They “ New Zealand is untapped opportunities. In order could emulate the model adopted admired around the to obtain optimal benefit from a by companies such as BYJU’s (a trade partnership between New highly successful online education world for its ability to Zealand and India, the sector provider in India) and offer quality ‘punch above its weight where exponential growth is educational programmes locally on the world stage. We possible still remains untapped, and globally. the services sector. are also resourceful The Information technology (IT) people, renowned for India’s services sector covers sector, a mammoth in the services finding a way to “make myriad activities such as tourism, industry, has huge potential for transport, telecommunication growth as well. The New Zealand it work”. True to this and entertainment, finance IT sector is advanced, mature and ethos, New Zealandand insurance, and Information well entrenched across all sections based IT companies technology, to name a few. There is of society and New Zealand is an have hit upon a mantra an opportunity for both countries avid consumer of IT. There is an to work closely in most of these. ocean of knowledge, but the ability on how to take their to take it global is stymied by our services onto a global As a case in point, New Zealand geography and small population. platform. ” has a booming tourism sector; There is a lack of adequate skilled India has an established and personnel to address both national mature hotel industry. If the two and international demands. actively collaborate to develop exciting, new properties This limits our capacity to reap the full potential of across New Zealand, it would open a new space to our expertise as well as achieve economies of scale. partner enriching both countries as well as create more However, some innovative entities are adopting employment opportunities. unconventional ideas to overcome these constraints. Another service that has witnessed phenomenal growth in recent years, is online education.
New Zealand is admired around the world for its ability to ‘punch above its weight on the world stage. We are
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