Business body to host cross-border Summit

Companies, institutional investors and others keen on establishing their presence in the growing Indian market would find a forthcoming event in Auckland a veritable platform to exchange ideas, information and perhaps even strike useful partnerships.

The New Zealand India Business Council (INZBC) is organising a one-day conference under the theme, ‘Beyond Business Borders’ on July 8, 2014 at Pullman Hotel Auckland.

The programme will commence at 8 am and conclude at 3 pm.

Describing the event as a ‘Business Summit,’ INZBC Chairman Sunil Kaushal said that while India offered high potential for enhanced cross-border partnerships, there was a need to have a clear perception of the market and sound strategies to succeed in a complex and evolving environment.

Ground realities

“Such a perception can be provided by companies, their top executives and businesses that have gained experience over the years in India. Our forthcoming Summit will hopefully present case studies and examine the ground realities in order to promote constructive engagement that is sustained and progressive,” he told Indian Newslink.

He said that New Zealand businesses were keen to understand how the recent general election that led to a new federal Government would alter the commercial and business prospects for domestic and foreign investors.

“A number of questions are now being asked as to whether the post-election euphoria and high expectations of change for the better would eventuate; and if the way forward for New Zealand businesses is visible. One of the most important concerns is to find the means of overcoming the barriers to trade,” Mr Kaushal said.

Eminent speakers

At press time, the Council confirmed that among the speakers would be Economic Development Minister Steven Joyce, Fonterra Director John Monaghan, Fisher & Paykel Chief Operating Officer Andrew Paykel, New Zealand Trade & Enterprise Regional Director (India, Africa & Middle East) Clayton Kimpton and Treasury Director (Macroeconomic Policy) Tim Ng.

According to Mr Kaushal, the Council is awaiting confirmation from a number of speakers from India and New Zealand.

“The Business Summit is for Chairmen, Chief Executives, Finance Directors, Senior Executives, Heads of Legal, Government Relations & Corporate Affairs, Business Development and Marketing Managers and Partners of Professional Services Organisations.

“Delegates will receive authoritative insights from the speakers who have their pulse on the New Zealand and Indian economy and experience doing business with India. They will demonstrate how Innovation, Strategic Ventures and Sustainable Growth are the keys to doing ‘Business Beyond Barriers’ in the Indian Market,” he said.

The Council is hosting a gala dinner on July 8 to mark its Silver Jubilee although it reached the milestone last year.

Elusive FTA

The Summit comes at a time when the need for a stronger working relationship built on synergies between businesses in New Zealand and India is becoming apparent. While Government-to-Government relations remain strong and continues to grow, the much discussed Free Trade Agreement (FTA) is yet to make any tangible progress.

There are a number of imponderables that impede speedy conclusion of an FTA between the two countries, the most significant of which is concessions on agricultural and dairy products. India says that as an agricultural economy, it cannot jeopardise its interests in farming and dairy and hence is sensitive to any suggestion of tariff-free trade. Besides, there is no compelling reason for Delhi to negotiate a deal since its two-way trade with New Zealand is in favour of the latter.

Business contacts

There is therefore emphasis on business-to-business contacts and relationship, which has the endorsement of both Governments. A number of trade delegations that visited India in recent years (including the one that accompanied Prime Minister John Key in June 2011) have returned with grand plans of boosting their trade or commercial ties with India but soon found their enthusiasm watered down by a lack of proper market intelligence, knowledge of systems and procedures and most importantly, a mechanism that would take them through the process.

Many businesses have narrated their experience to Indian Newslink saying that Government organisations are limited in their scope and extent.

The mantle of responsibility would therefore rest on private organisations such as INZBC to initiate contacts and develop them to the benefit of Indo-Kiwi businesses.

The risks that they can encounter form a part of our Editorial (Viewlink) on Page 14.