Reiterating its commitment to provide a greater momentum to the ‘Make in India’ initiative, India New Zealand Business Council (INZBC) and The Indian High Commission, Wellington co-hosted a pre-cursor event in Auckland on 11th February.
The event was well attended by dignitaries from Indian High Commission, noted kiwi businessmen, New Zealand government representatives along with many others.
The seminar emphasised the potential for better Indo-Kiwi trade and business ties. Noted speakers gave an overview of the ‘MAKE IN INDIA’ initiative launched by Indian Prime Minister Narendra Modi along with several other initiatives taken by the new government of India to create business friendly environment.
“With new found optimism and energy under the leadership of the new Prime Minister of India, New Zealand is uniquely placed to have become the priority country for India” said, Sandeep Sood, Chargé d’Affaires a.i., High Commission of India, Wellington. He further added that Indian government have been encouraging Kiwi companies to partner with Indian companies and get benefited greatly in terms of ease of doing business.
With liberalised FDI regime, policy corrections and many other radical reforms India today has become one of the most open economies of the world promoting investments in 25 high growth sectors. With 24x7 online service to investors across the world, India has opened doors for companies to set up its large scale manufacturing plants.
Speaking about the changed mind-set of the new Indian government, Clayton Kimpton, NZTE’s Regional Director for India, expressed his gratitude for the immense support the government has extended towards the foreign investors.
"The economic growth and improvement to the ease of doing business to be driven by the Make in India campaign is good news for New Zealand business. With the right market research, operating capital, brand awareness and an eye for scaling up, New Zealand companies will succeed in this dynamic market", said Kimpton.
According to a recent survey, 65% of India’s 1.2 billion population is under the age of 35. The average age of an Indian in 2020 will be 29, compared with 37 in China and the United States.
Acknowledging that in the next decade, India is expected to have the largest available workforce in the world, Kanwaljit Singh Bakshi, National List MP reiterated that Kiwi’s should harness the immense talent that lies within the youth of India today. New Zealand is focusing on growing good exports and service trade while attracting skilled migrants from India who could contribute to our economy. New Zealand and India have always enjoyed a very strong relationship and both the countries have a lot in common. With the growing middle class population, New Zealand businesses can take advantage of India’s vast market for consumer products and services. Further advancements can also be made in the field of pharmaceuticals, thus making the health care more affordable in NZ.”
INZBC’s Head of Govt. Relations, Wenceslaus Anthony said that this is an opportunity for kiwi businesses to grow immensely with the help of Indian companies as local partners. Collaboration is the name of the game.
“New Zealand and India are already enjoying longstanding, friendly and growing relationship with each other, I firmly believe that collaboration of Kiwi and Indian businesses through ‘MAKE IN INDIA’ initiative will ensure an impressive growth for economies of both the countries”, said Mr. Anthony.
Bhav Dhillon, Treasurer of INZBC said, “India is turning out to be the manufacturing powerhouse; be it demographic advantages, infrastructural incentives or policy reforms its strengths neither can be denied nor overlooked. I believe Kiwi companies could take the advantage of all these strengths and tap the potential to reap more profits and growth.”
All the panellists acknowledged the immense opportunity that lies in collaboration with a growing economy like India.
About Make in India Initiative: 13TH-18TH FEBRUARY 2O16/MUMBAI A week that will spark a renewed sense of pride in Indian industry by showcasing the potential of design, innovation and sustainability across India's manufacturing sectors in the coming decade.