Strengthening trade with the world's 5th largest economy - India

The key takeaway from the Empowering Economies Forum, held in Wellington on 13th January 2025.

With Prime Minister Christopher Luxon’s recent visit to India in March sparking fresh talks on an FTA and boosting collaboration in horticulture, forestry, and education, I wanted to share some key takeaways from my time at the Wellington Indian High Commission’s Empowering Economies: A New Era of NZ-India Business Relations forum in February. The event was a fantastic opportunity to hear from industry leaders about the real opportunities and challenges of strengthening trade ties between New Zealand and India.

From left to right: Dr Vivienne Hunt, Director of Nuku Toi, Christine Sharp, CEO of Aspen, Parminder Kauer, NZ Parlimentary Services.

Todd McClay opened the day with a keynote on the untapped potential for increased trade with India. Throughout the discussions, there was a consensus that New Zealand urgently needs a private-sector-driven strategy to develop more substantial market opportunities.

The forum featured insightful panel discussions, including one moderated by Aspen NZ CEO Christine Maiden Sharp with representatives from Fonterra, Mr Apple, the India NZ Business Council, and an Indian business consultant. Another panel, featuring Meat Industry Association executives and an Indian chef, highlighted the demand for New Zealand lamb, given that India imports around 30% of its lamb from New Zealand.

Key topics included sports diplomacy, trade barriers, and the importance of state-level collaborations. Speakers stressed the importance of understanding India’s traditional sales channels, such as roadside vendors, and how to influence Indian consumers effectively. The forum also underscored the role of joint ventures and long-term partnerships with Indian companies over transactional relationships.

With significant opportunities available, it’s time for New Zealand businesses to take proactive steps in deepening trade ties with India. I hope that political pressure combined with economic pressure can yield great results for NZ/Indian businesses.

Nuku Toi can help develop and realise these opportunities. Its proven connections to the Asian market can help NZ businesses search, explore, and evaluate potential opportunities in the Indian market.

Contact us today to discuss how Nuku Toi can help your company realise these opportunities.