Indian Newslink Feb 15, 2016 Digital Edition

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14 BUSINESSLINK February 15, 2016 We are at least talking of trade boost with India Grahame Morton (New Zealand’s High Commissioner to India), Sunil Kaushal, Subhas Aggarwal, (Chairman, National Council on Microfinance, ASSOCHAM), Arvind Kumar (Advisor, ASSOCHAM), Babu Lal Jain (Member of Managing Committee, ASSOCHAM) Venkat Raman venkat@indiannewslink.co.nz New Zealand and India have spent almost ten years speaking about the need to get closer on economic cooperation and bilateral trade but statistics prove that the desire is yet to become reality. While China has become our largest trading partner within this period, two-way merchandise exports and imports between New Zealand and India remains modest at about $1.2 billion and the much talked-about Free Trade Agreement (FTA) remains as distant it was in November 2007 when ‘serious intensions’ were expressed by both governments. However, that does not mean, there are little or no opportunities to foster better ties with India governmental and non-governmental levels. New Zealand now has an opportunity to witness the transformation and resurgence of a young, confident and optimistic nation that will be the new hero in tomorrow’s global drama. Our engagement with India is very timely and strategic. Complex Economy As we have always said, India is a complex country with diversity of views and needs and any dialogue on bilateral relations should take into account the ambitions of its teeming millions and the economy’s changing requirements. Negotiators, diplomats and experts on India have often said that governments of either country should direct their energies in supporting private initiatives and encourage business-to-business relationship and people-to-people dialogue. The federal government in New Delhi is promoting its new concept of ‘Make in India’ Programme, as a measure of not only increasing productivity but also becoming a global supplier of goods, in addition to services, Kanwaljit Singh Bakshi with (from left) Sujata Sudarshan (Regional Director, ASEAN & ANZ, CII); Sunil Kaushal, Jane Cunliffe (Trade Commissioner, North India), Subhabrata Haldar (Senior Vice-President IIDC), Rajesh Menon (Deputy Director General, CII) A V Rajamany (Deputy Director ASEAN & ANZ, CII) which it has been providing through its engineering, software and consultancy skills. PPP works Public-Private Partnership also works, as evidenced in Auckland on February 11, 2016 when the India New Zealand Business Council organised a meeting enabling the Indian High Commission Charge de Affaires Sandeep Sood to speak about the ‘Make in India Week’ (marked in India from February 13 to 18, 2016). A separate report of this event appears elsewhere in this issue. India Trade Alliance (ITA) established about six months ago, created similar impact in January by forging relationships with a number of industry organisations in Delhi. ITA General Secretary Sunil Kaushal signed a Memorandum of Understanding (MoU) each with the Associated Chambers of Commerce & Industry (ASSO- CHAM) and the Confederation of Indian Industry (CII). “ASSOCHAM has in its fold more than 400 Industry Chambers, Trade Associations and serves more than 450,000 Corporate Members from all over India. Speaking to its members, New Zealand High Commissioner Grahame Morton reiterated our government’s commitment to engage with India bilaterally, culturally, academically and in sporting relations,” Mr Kaushal said. CII is India’s premier business association with more than 7100 members, from the private as well as public sectors, including multinationals and small and medium enterprises and an indirect membership of over 100,000 enterprises from around 240 national and regional sectoral industry bodies,” he added. Common platform ITA Chairman Giri Gupta claimed that his organisation has commenced 2016 strengthening links with these premier bodies. Sunil Kaushal with India’s Foreign Secretary Dr S Jaishankar “For New Zealand businesses to work closer with Indian counterparts, we need collaborative working relationships with businesses in India to establish a platform for Kiwi firms to engage at the business level,”he said. Among those present at the MoU signing ceremony with CII were National Member of Parliament Kanwaljit Singh Bakshi, New Zealand Trade Commissioner (North India) Jane Cunliffe. While in India, Mr Kaushal also met senior Indian officials at External Affairs and Trade Ministries, including Foreign Secretary Dr S Jaishankar, Trade Negotiator Arvind Mehta and Joint Secretary (South)J aideep Mazumdar. He also met India’s new High Commissioner to New Zealand Sanjiv Kohli. As reported in our January 15, 2016 issue, he is expected to arrive in Wellington to begin his tour of duty in New Zealand this fortnight. Getthe Foundation for Career Success early childhood education business health 0800 88 6922 nzcc.ac.nz ENROL TODAY ®
February 15, 2016 BUSINESSLINK 15 Radical reforms to ‘Make in India’ work KS Bakshi (extreme right) with Bhav Dhillon, Clayton Kimpton, Sandeep Sood, Wenceslaus Anthony and INZBC Executive Member Sameer Handa its own ‘Challenge of Change.’ “The federal government should ensure the participation of all States to enable the success of ‘Make in India.’ The manufacturing sector in India currently accounts for only 6% of the GDP and the plan is to increase it to 25%. This in itself offers mammoth opportunities for New Zealand businesses but we should be aware of our capabilities and limitations. Our small size does not help us achieve economies of scale but partnership in ‘Make in India’ campaign will accrue benefits,” he said. Mr Kimpton said that market intelligence and right connections were important to be successful in India and hoped that companies and entrepreneurs interested in engaging with India will seek the assistance of NZTE. Among the other speakers at the Seminar were INZBC Treasurer Bhav Dhillon and former Chairman Wenceslaus Anthony. Sandeep Sood describing ‘Make in India’ Campaign Venkat Raman venkat@indiannewslink.co.nz India is on the threshold of exciting developments with the federal government in New Delhi implementing a series of radical reforms that would not only achieve sustainable development but also seek, establish and foster foreign partnerships, a senior diplomat has said. Speaking at the ‘Make in India’ Seminar organised by the India New Zealand Business Council (INZBC) at the Westpac Head Office in Auckland City on February 11, 2016, Indian High Commission Charge de Affaires Sandeep Sood said that the reforms are also witnessing a change in approach – from ‘Red Tape to Red Carpet.’ Hidden Treasures The ‘Make in India Week’ being held in Mumbai from February 13 to 18, 2016, is an opportunity for businesses to discover the ‘hidden treasures of India’ and learn of the facilities and incentives that are being offered to Indian and foreign companies to participate in India’s industrial and commercial development. Massive changes have occurred in terms of simplified systems and procedures and issue of licences and permits,” he said. According to Mr Sood, the challenge for India is to achieve an average economic growth of 10% per annum over the next ten years, ensure ease of doing business and become a part of the global chain. “The government has taken steps to offer a number of incentives and innovative programmes that would create new avenues for growth. The concept of restricted foreign equity has undergone major changes and today Foreign Direct Investment (FDI) is available in several areas. Foreigners can now own 100% equity in the Telecommunications sector,” he said. Digital India He cited ‘Digital India,’ Clean India Campaign’ and the existing and emerging opportunities across several industries including automobile, textile, agriculture, information and communications technology, and many others. “India has a large consumer market and is a vibrant nation,” he said. National Member of Parliament Kanwaljit Singh Bakshi, who recently returned from India after attending several meetings and events (some of which have been published elsewhere in this issue) said that India offers ‘real opportunities’ and that it is the right time for New Zealand businesses to take advantage of them. “India has opened its huge markets to international companies, businesses and individuals and both John Key and Narendra Modi (Prime Ministers of respective countries) are keen to strengthen our friendly relations,” he said. The Challenges New Zealand Trade & Enterprise Regional Director Northern Emirates and Consul General based in Dubai Clayton Kimpton, who is in New Zealand to attend a series of meetings of Trade Commissioners, said that the ‘Make in India’ campaign will be attractive to foreign businesses only if India successfully addresses
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