India-NZ : "Huge Potential, Work Required"

The INZBC has been working for more than 30 years to build long-term positive economic and trade relations between New Zealand and India, with 400+ members across the primary sector, fintech, education and SMEs.

INZBC Chair Bharat Chawla says the report released today 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" he says.

"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."

Mr Chawla says the Council has been 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 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" he says.

“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 visit to India with a trade delegation was a key demonstration of the government’s  commitment to building this important relationship.,

The Council says ongoing investment is needed in growing “India capability” in New Zealand businesses.

The "Boardroom to Border" event in Auckland was attended by more than 300 people, and featured g addresses from the PM, and Hon Pabritra Margherita, Minister of State for External Affairs for the Government of India. Other speakers included Foreign Affairs Minister Winston Peters, and Asia New Zealand CEO Suz Jessep..

Asia Media Centre