Empowering Economies: Key Takeaways from NZ - India Business Forum
“This event comes at a pivotal time. As of the year ended March 2024, two-way trade between New Zealand and India reached NZ$2.83 billion annually, with New Zealand exporting NZ$520 million worth of goods to India, nearly half of which are agricultural exports.”
Bharat Chawla - Chair, India NZ Business Council
Empowering Economies:
Key Takeaways from the NZ-India Business Forum
New Zealand and India share a long-standing relationship, with significant opportunities to increase trade across sectors including technology, dairy, agriculture, education, and tourism. At the recent forum, Empowering Economies: A New Era of NZ-India Business Relations, experts from both nations came together to explore how these opportunities can be leveraged for mutual growth. Hosted by the High Commission of India to New Zealand in Wellington, the discussion built on the NZ - India forums held by the Aspen Institute New Zealand, which focussed on how New Zealand can apply their skills and expertise to assist India, while also providing opportunities to strengthen and build long-term relationships between the two nations.
Moderated by Christine Maiden Sharp, CEO of Aspen Institute New Zealand, the panel discussion brought together Bharat Chawla (Chair, INZBC), Chandan Ohri (Founder/CEO, Duco Consultancy), John Allen (Export Sales Manager, Mr Apple), Justine Arroll (GM, Trade Strategy, Global External Affairs, Fonterra), and Peter Miskimmin (Head of Sport Diplomacy, Sport NZ).
Three Key Takeaways:
1. The Private Sector Leading the Two-Way Trade Relationship
The forum highlighted the critical role of private-sector leadership in strengthening NZ-India trade relations. Rather than relying solely on traditional government-led trade agreements, business-led initiatives are driving momentum. From Fonterra’s complimentary approach - adding value to dairy exports by producing functional protein - to Mr Apple’s 25-year commitment to a tailored premium market strategy in India, businesses are already leading the way. Duco Consultancy is scaling globally from India, becoming New Zealand’s largest employer in India, with 50% (125) of its developers focussed on AI solutions for global clients over the past 6 years.
As Bharat Chawla noted, the time is now to build momentum with collaborative agreements, with India potentially looking for new trading partners amidst uncertainty with the US and both governments devoting resources to make it happen. Success requires businesses forming direct connections, supporting the ‘Made in India’ campaign by designing, manufacturing or servicing in India and identifying niche, scalable opportunities.
2. Overcoming Barriers: Trade Challenges and Solutions
While the opportunities are vast, challenges such as regulatory barriers, logistical complexities, and cultural differences remain. Panellists discussed how businesses can navigate these obstacles through improved supply chain resilience, policy advocacy, and strategic partnerships. Justine Arroll noted that Fonterra has been building relationships in India for many years and that collaborating with their partners to address challenges has been a powerful strategy supporting their growth. For example, Fonterra’s long term IT partnership with Indian owned HCLTech has enabled growth, with a team of more than 600 people in New Zealand, Australia, Malaysia and India today.
Additionally, the panellists emphasised the importance of having ‘feet on the ground’ with dedicated representatives in India to build relationships and advocate for New Zealand businesses. Duco Consultancy’s Chandan Ohri recommended businesses "find the right sized and committed partner for your organisation to help navigate local barriers”.
Panellists also unanimously agreed that timing is crucial. With New Zealand currently behind markets like Australia in developing trade relationships with India, they noted the need for urgency in developing deeper connections.
3. Sports Diplomacy: A Growing Trade Bridge
Sport is more than just entertainment; it’s a vehicle for international business, as Peter Miskimmin explained. He discussed how sports diplomacy is an underutilised yet powerful tool for fostering economic relationships, noting that NZ is 'late to the game' in this area of diplomacy. Quality NZ, an organisation headed by NZ cricket legend Geoff Allot, demonstrates how sporting ties between New Zealand and India can translate into commercial opportunities, benefiting industries beyond the sports field. Leveraging this connection could enhance visibility and trust between business leaders, opening new trade avenues. “In sports, New Zealand is no minnow. We have mutual respect for each other”.
Looking Ahead
The panel concluded with a forward-looking discussion on where the NZ-India trade relationship could be by 2030. Common themes included the need for policy alignment, sustainable practices, and investment in emerging sectors. However, the key message was clear: the time to act is now. New Zealand must take proactive steps to deepen engagement with India, establish stronger business relationships, and ensure that it is not left behind by other markets such as Australia.
As panellist Bharat Chawla commented “India and New Zealand relations are in their best phase of growth, and a strong push from businesses, the diaspora, and both governments will help to reach the best outcome for both countries.”
To hear the full discussion, watch the event recording below.
The Aspen Institute New Zealand looks forward to continuing this dialogue and supporting future collaborations that drive economic growth for both nations.