India presents a lucrative opportunity for New Zealand
exporters.
The needs of its billion plus population and sustained 8%
growth are fuelling insatiable demand, not just for
commodities, but also in key sectors such as energy,
infrastructure, transportation, education, healthcare, food
and beverages and consumer goods.
New Zealand is only just beginning to discover this
opportunity.
Although New Zealand exports to India have more than trebled
since 2003, we are only exporting about a fifth of the value
of goods to India that we are to China.
There are good reasons to believe that we can do much
better.
Since the early 1990s India has progressively lowered
trade barriers. Quantitative restrictions in imports have
been abolished and average tariffs on non-agricultural items
have fallen below 15%.
India's growing openness is signalled by its participation
in multilateral trade negotiations, where it is a leader
among developing nations, and in recent free...