The India-New Zealand Business Forum, organised by the Auckland Chamber of Commerce in partnership with the High Commission of India, coincided with the official visit of the Union Minister of Commerce and Industry to New Zealand to advance India-New Zealand FTA talks. The forum explored opportunities to strengthen trade, investment, and technology partnerships between the two countries.
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India-New Zealand FTA Talks: Strategic Dialogue and Trade Cooperation
A dialogue between the trade ministers of both countries reaffirmed their shared commitment to strengthening economic cooperation.
The dialogue highlighted ongoing India-New Zealand FTA negotiations as the basis for developing a broader and mutually beneficial trade partnership.
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India-NZ Business Forum: Potential Opportunities Discussed
Business interactions across Auckland and Rotorua reflected growing interest in cooperation in:
- Agriculture and Food Processing
- Tourism and Education
- Technology, Gaming, and Drones
- Space collaboration, leveraging India’s recent achievements in space exploration
A CEO Roundtable in Rotorua convened representatives from both nations’ industries to identify avenues for joint investment, value addition, and innovation.
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Diaspora and Cultural Linkages
Indian diaspora’s role in strengthening community and business linkages, as well as driving cross-border collaboration and entrepreneurship, cannot be overlooked. It serves as a vital connection to deepen bilateral engagement between India and New Zealand.
Institutional and Enterprise-Level Engagements
The Indian delegation visited key New Zealand enterprises, including Red Stag (wood processing), Fonterra Co-operative Group (dairy & food innovation), and the Auckland University Innovation Hub, to explore collaboration in industrial technology, food innovation, and academia.
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India-New Zealand Trade Overview
(Data Source: Statistics NZ)
- Bilateral trade between India and New Zealand has grown steadily over the past five years.
- India’s exports have increased, reflecting diversification in industrial and technology-linked goods.
- India’s Top Goods Imports: Iron & Steel, Wood, Fruits & Nuts, Wool, etc.
- India's Top Goods Exports: Mineral Fuels & Oils, Pharmaceuticals, Mechanical Machinery, Made-Up Textile Articles, Electrical Machinery & Equipment, etc.
- India’s Top Services Imports: Travel, Government Services, Telecommunications, Computer, and Information Services, etc.
- India’s Top Services Exports: Travel, Telecommunications, Computer, and Information Services, Other Business Services, Insurance & Pensions Services, Government Services, etc.
This recovery signals a rebalancing of trade composition and highlights potential for expanded engagement under the ongoing India-New Zealand FTA negotiations.
DhruvStar Industry Insights: What it Means for the Indian Industry
- Agri-processing & Manufacturing Exports: Rising demand in New Zealand for processed food, pharmaceuticals, and manufactured goods gives Indian MSMEs and exporters room to strengthen their presence in high-value exports.
- Services Sector: India’s strength in IT, digital services, and creative industries aligns with tech partnerships in agriculture, logistics, and education.
- India-NZ FTA can Diversify Exports: Early progress in India-New Zealand FTA talks could reduce tariff barriers, helping Indian exporters compete in sectors like textiles, machinery, and renewable-tech components. However, this remains to be seen as the India-New Zealand FTA talks progress.
Sources
[1] PIB
[2] Trade Data Source: Statistics NZ (https://statisticsnz.shinyapps.io/trade_dashboard/)
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