A new report identifies the value of building connections with IndianÂ businesspeople in New Zealand, so that Kiwi exporters can explore full potential of Indian market.
â€œThe growing, well-educated and well-connected Indian diaspora in New Zealand provides a valuable resource forÂ building sustainable businesses, as well as cultural and social links betweenÂ the two countries,â€ says a new report by Asia New Zealand Foundation.
“Managers and policy-makers should work more extensively with the Indian diaspora in New Zealand, particularly its members involved in the business community.
“This community provides considerable potential for business managers to improve their understanding of the Indian business culture and prepare for successful business engagement in the market,” says the report.
India can offer huge potential market for New Zealand businesses as long asÂ entrepreneursÂ are well-prepared forÂ Indiaâ€™s regulatory environmentÂ and business culture, says the report.
One of the biggestÂ differences is the style of meetings, says New Zealand email security firm SMX. â€œEverybodyâ€™s got about two phonesÂ ringing at the same time. There are people walking in and out of the office allÂ the time. Messengers bringing papers on the desk which are signed and thenÂ sent off again in the middle of the meeting.â€
SMX is one ofÂ 14 NewÂ Zealand managers operating in India that has been interviewed for “Getting to Know Indian Businesses” report published by Asia New Zealand Foundation. Â The report alsoÂ draws on the experiences ofÂ their 14 Indian counterparts and provides advice like theÂ need for using localÂ contacts to help navigate the bureaucracy.
India is New Zealandâ€™s seventh-largest export market and the subject ofÂ ongoing Free Trade Agreement negotiations. Prime Minister John KeyÂ launched the Governmentâ€™s Opening Doors to India strategy in October,Â setting out six goals that include growing merchandise exports to $2 billion byÂ 2015.
There is also â€œhuge potentialâ€ for New Zealand firms to tackle India in a moreÂ coordinated way, Dr LindsayÂ says, pointing to the successful approach taken byÂ Aviation New Zealand.
â€œOne of the key things about the Indian market is the size and the need toÂ meet the scale requirements. For New Zealand firms, the collaborativeÂ approach is clearly one that would provide a lot of potential.â€
Access the Getting to Know Indian Businesses report.