The India NZ Business Council [INZBC], has signed an MOU with the Trade Promotion Council of India [TPCI], on 19th Jan 2018, on the occasion of the New Zealand delegation attending the Indus Food Expo, in Greater Noida [near Delhi], India. The MOU has been signed to promote products and services from the Food & Beverage industry in both New Zealand and India.
This two-way agreement was signed by Suresh Makhijani, Joint General Director at TPCI and Jay Changlani, Wellington Chapter Head of INZBC.
TPCI was very encouraged on the signing of this MOU. Suresh commented, “We warmly welcome a delegation from NZ. This MOU will enable closer working relationship between India and NZ. This is the first time we are hosting the Indus food event and we very delighted with the response.”
The Secretary General, MK Parimoo, TPCI said, “We believe this MOU and NZ delegation will create a two way business street between NZ and India.”
INZBC lead a delegation of 10 businesses who are either operating in the F&B sector or are planning to do so very soon. The delegation was head by Jay Changlani and also supported by INZBC board member, Sameer Handa.
Jay commented, “It was an honour and privilege to Head INZBC Delegation to India at Indus Food, Noida organised by TPCI. The event was a great success, as Indian buyers developed import and export market for themselves by connecting with 200 direct food supplier such as Patanjali, Everest, various Rice brands, fresh fruits, snacks etc.”
“From export point of view, More than 50 other countries that were buying showed lot of interest in organic NZ products such as dairy and Manuka Honey.
This MOU will enable more closer working relationship between India and NZ businesses.”
Commenting on the key reason for taking this delegation, Mr. Changlani said, “Fostering relationships and creating a platform for opportunities for business in India and NZ are key for our successes in the last couple of years. The INZBC team and TPCI are very excited with this opportunity to showcase that trade can even be conducted between India and NZ without a formal FTA agreement.”
The Indus Food Expo, is a hub for the F&B Industry to maximize their business opportunities. Supported by Department of Commerce, Government of India, Indus Food is a Mega Food & Beverage industry trade show for the world, where delegates can meet 500 most prominent sellers from the food & beverage sector of India. Companies from the world over gathered to meet the selected Indian suppliers to negotiate their forthcoming procurement deals and private labels.
Sameer Handa, INZBC board member said, “Indus food is a great networking platform which will facilitate lot of business between India and NZ”.
“With India being the 6th largest Grocery market in the world, there is huge potential for the NZ companies also to capitalize in this market. INZBC looks at both channels of trade; ie: both exports & also imports from India to the NZ market. This step was in that direction to boost import of Indian goods & services as well, to the kiwi market”, said Mr. Handa.
Acknowledging the support of the Indian High Commissioner, Bhav Dhillion, treasurer, INZBC, thanked the High Commissioner for his guidance & support. “This mission was made possible due to the encouragement & support of the High Commission and his office. We appreciate the guidance given by Mr. Kohli to promote trade with India.”
India is the top global producer of many food items, including Meat, Milk, Mango, Banana, etc. The Food Processing Industry alone constitutes 14% of the GDP of India. However NZ does not import much from India. By year ending August 2014, NZ Imports from India were up $47 million (11 percent) to $463 million, but still contributing only 0.9 percent of the year's imports.
Showing a big potential in increase of trade volumes.
The expo was organised by the Trade Promotion Council of India. TPCI is an apex trade and investment promotion organisation, recognised and supported by the Department of Commerce, Govt. of India. They work towards facilitating the growth of Indian industry with global investment & trade opportunities. The council provides strategies for expanding business internationally, by organising specialised business events and simultaneously working with the Government by providing policy suggestions which are essentially based on inputs collated from research and industry stakeholders.