Auckland Business Chamber and Indian High Commission: September 28 at Cordis Hotel
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Venkat Raman
Auckland, September 15, 2023
All stakeholders including political, business and community leaders who are keen that New Zealand should engage better with India and capitalise on the existing and emerging potential of the world’s fastest-growing economy will have a unique opportunity to do so next fortnight.
The Auckland Business Chamber and the Wellington-based High Commission of India are organising the half-day event on Thursday, September 28, 2023, at Cordis Hotel, Symonds Street, Auckland City. The Programme will begin at 1.45 pm and culminate at a gala dinner.
India’s Minister of State for External Affairs Dr Rajkumar Ranjan Singh will be a Special Guest at the Summit, which will have him, along with Prime Minister Chris Hipkins, National Party Leader Christopher Luxon and the High Commissioner of India to New Zealand Neeta Bhushan as Keynote Speakers.
Infrastructure boom in India
The keynote speeches are expected to highlight the massive investments currently underway in India’s infrastructure programmes, the projected high rate of growth and the opportunities that exist for investors and commercial firms.
Mr Hipkins and Mr Luxon, who are leading respectively the Labour and National Party in the general election on October 14, 2023 have both expressed their desire to get closer to India. The Summit provides another chance to convert that lip service into planned action.
The Business Summit is the result of the combined efforts of Auckland Business Chamber Chief Executive Simon Bridges and Ms Bhushan.
“I am excited to organise this Summit along with the Auckland Business Chamber to enable New Zealanders to engage more closely with India. Together we can achieve significant progress and promote the welfare of our people in both countries,” she told Indian Newslink when the arrangements were being finalised several weeks ago.
Mr Bridges said that the Summit aims to bring together thought leaders, business leaders, policymakers, and technology pioneers to explore the burgeoning opportunities in sectors ranging from technology to export/inputs of goods all with a focus on international trade and the wider relationship.
“We strongly believe that any company or professional keen on promoting business relationship with India will benefit from this event and it would be a way to strengthen the relationship possibilities that exist between India and New Zealand,” he said.
Mr Bridges was recently in India coinciding with the official visit of Agriculture and Trade Growth Minister Damien O’Connor. He said that the discussions that he held with his colleagues in organisations like the Federation of Indian Chambers of Commerce and Industry were useful and that he was confident that New Zealand would raise its level of relationship with India.
Summit Highlights
Mr Bridges said that the Summit will feature Panel Sessions.
“The Panels will feature seasoned professionals from diverse sectors to discuss the intricate dynamics that define the Indo-New Zealand relationship. One such panel, ‘India’s Plenty – What India Offers New Zealand,’ will focus on the transformative power of technology and India’s emerging role as a global technological leader. An in-depth analysis of market opportunities, cultural exchanges, and sector-specific discussions that aim to promote bilateral investments and collaborations will also be held,” he said.
The Summit will include networking sessions that provide a platform for real-time interaction between business leaders interested in tapping into the exponential growth potential of the India-New Zealand partnership.
“A Gala Dinner to celebrate the milestones and future prospects of this strategic alliance will be a fitting finale to the Summit,” Mr Bridges said.
He said that delegates to the Summit will have networking opportunities, engaging with professionals across diverse sectors, ranging from tech to international trade and building valuable connections that could define the future of their businesses.
“They will have also opportunities to acquire nuanced understandings of market opportunities, cultural dynamics, and sector-specific investment prospects,” Mr Bridges said.
About G20 and Beyond
The theme of the two-day Summit to which Mr Modi committed his Nation and the world- Vasudhaiva Kutumbakam: One Earth, One Family, One Future became the mantra of the leaders present at the proceedings. The world watched, somewhat with awe, the capability of India in organising such a massive gathering with the tall order of security of the leaders in attendance, not to forget various other arrangements.
The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States) and the European Union. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
It was a singular achievement that the African Union became a permanent member of G20, upgraded from its Observer status. The Union represents 55 countries and accounts for the world’s largest free trade area and as such will make a big difference to the world body.
The G20 Summit also had special invitees, among whom were Bangladesh Prime Minister Sheikh Hasina, Egyptian President Abdel Fattah al-Sisi, Mauritius Prime Minister Pravind Kumar Jugnauth, Netherlands Prime Minister Mark Rutte, Nigeria’s President Bola Tinubu, Oman’s Sultan Haitham bin Tarik al-Said, Singapore Prime Minister Lee Hsien Loong and UAE President Sheikh Mohammed bin Zayed. As well as the US Treasury Secretary Janet Yellen, the Summit had the presence of the heads of the United Nations, the International Monetary Fund, the World Bank, the World Health Organisation, the World Trade Organisation, the International Labour Organisation, the Financial Stability Board and the Organisation for Economic Cooperation and Development.
Accolades from China
China praised the G20 Declaration, saying that it sent a positive signal to the world.
Chinese Foreign Ministry spokesperson Mao Ning said that her country had always supported the G20 and believed that its members should “stand in solidarity and cooperate on global issues.”
“The summit adopted a leaders’ declaration, which reflects China’s proposition and states that the G20 would act in concrete ways through partnerships, sending a positive signal of the G20 working together to tackle global challenges and promote world economic recovery and global development. It reflected our views and showed that the G20 was working together to tackle global challenges and promote development,” she said.
This is the first time that Beijing has commented on the declaration.
Several other countries, including the UK and the US, praised the joint statement, which avoided condemning Russia, a key strategic ally of China, for its war against Ukraine.
Russia also hailed the Declaration as a “Milestone.’
However, Ukraine, which was not represented at the Summit, expressed its disappointment saying that the Declaration was “nothing to be proud of.”
India’s penchant for Trade
The G20 Summit, which was held under India’s Presidency in New Delhi on September 9 and 10, 2023 defined the future shape of the global economy. As the world’s largest grouping in terms of economic power (accounting for 80% of the world’s GDP and 75% of trade), the Leader’s grouping set the stage for trade growth in the coming years.
The G20 Declaration largely reflects India’s belief in trade for growth.
The Declaration, a joint statement of the G20 Leaders (including the USA, UK, Canada and Australia) called for a rules-based, non-discriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral trading system, with WTO at its core.
“We will support policies that enable trade and investment to serve as an engine of growth and prosperity for all. We renew our commitment to ensure a level playing field and fair competition by discouraging protectionism and market-distorting practices, to foster a favourable trade and investment environment for all. We reiterate the need to pursue WTO reform to improve all its functions through an inclusive member-driven process and remain committed to conducting discussions with a view to having a fully and well-functioning dispute settlement system accessible to all members by 2024.
