Heading in the right direction with plenty of hard work still to go: that’s the verdict on the India-New Zealand bilateral relationship from the India New Zealand Business Council (INZBC) report launched on Friday 6th May in Auckland at its ‘Boardroom to Border’ event.
Bharat Chawla, INZBC Chair explains the report shows bilateral trade hasn’t quite reached pre-Covid levels but has improved markedly over the past three years.
“There’s so much potential to grow trade between our countries: New Zealand ranks just 70th in the list of trading partners with India, the world’s most populous nation with its fifth-largest economy. We have strong cultural and people ties between our nations, India’s growing middle classes have a taste for many of the products and services we offer and many New Zealand companies are quietly working away to build the relationships to build their businesses in India.
“We’re really encouraged by the New Zealand government’s focus on building relationships with India, particularly with the Prime Minister’s successful trade delegation earlier this year and numerous visits from Trade Minister Todd McClay. It’s created real momentum and goodwill which has led to our diplomats now sitting in Delhi for the first round of trade talks.”
“But government and business need to act now to grow trade, to stay focused and work together to build deep, lasting relationships in India underpinned by a clear, consistent strategy. India is moving so quickly and we need to move just as quickly – or risk being left behind,” says Mr Chawla.
Some of the key findings from Grow with India: The New Zealand India Trade Report – 2025:
- New Zealand trade with India has picked up markedly over the last three years from a relatively low base, driven mainly by increases in education and travel post-Covid.
- Progress has been made on the majority of the 17 recommendations to grow bilateral trade in the INZBC’s 2023 report.
- The Prime Minister’s recent trade delegation was a key demonstration of the government’s commitment to building this important relationship, with the recent diplomatic focus supporting longstanding export investment to realise our trade potential with India.
Ongoing investment is needed in growing “India capability” in New Zealand businesses and work remains for private sector and government to address longstanding issues around mobility and two-way investment.
More than 300 people attended the event, featuring addresses from Prime Minister Rt Hon Christopher Luxon, recently returned from his largest-ever delegation to India, and Hon Pabritra Margherita, Minister of State for External Affairs for the Government of India and Deputy Prime Minister and Minister of Foreign Affairs Rt Hon Winston Peters.
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About INZBC
The India New Zealand Business Council is the premier trade organization dedicated to promoting and strengthening business relationships between India and New Zealand. Through advocacy, networking events, and strategic initiatives, INZBC plays a crucial role in enhancing bilateral trade and investment opportunities.
INZBC has been working for more than 30 years to build long-term positive economic and trade relations between the two countries, with 400+ members across the primary sector, fintech, education and SMEs. Our members are based around the country with chapters in Wellington, Auckland and Christchurch.
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Sunil Kaushal, General Manager
