Wednesday, March 26, 2008

India to strengthen bilateral ties with New Zealand

by Jo Black

Mr. Kamal Nath, Indian Minister of Commerce and Industry, during his meeting with Mr. Jim Anderton, the New Zealand Minister for Agriculture, Forestry, Bio-Security and Fisheries, who called on him here today, has called for further strengthing of the bilateral ties between India and New Zealand. Observing that technical cooperation need to be put on the priority agenda, both India and New Zealand agreed to provide the enabling environment for achieving further cooperation. Mr. G.K.Pillai, Commerce Secretary and senior officials from both sides were also present during the bilateral talks.

The collaboration and investment from New Zealand has been rising continuously. From August 1991 to June 2007 Government has approved 50 FDI proposals from New Zealand with an equity participation of US$ 100.5 million). New Zealand ranks 37th in the list of countries in terms of cumulative FDI approved from August 1991 to June 2006. The top sectors attracting FDI (from August 1991 to June 2007) from New Zealand are Services Sector (57.65%), Food Processing Industries (28.37%), Telecommunications (12.83%), Boilers and Steam Generating Plants (0.52%), and Electrical Equipments (including computer software & electronics) (0.36%). Top sectors attracting FDI inflows (from January 2000 to June2007) from New Zealand are Power (90.79%), computer software & Hardware (4.44%) and Trading (2.17%).

As regards Technical collaborations, New Zealand has been granted 20 technical collaborations since, 1991. Top sectors attracting technology from New Zealand are – Electrical Equipments (including computer software & electronics) and Metallurgical Industries. Top FDI Inflows received (from January 2000 to June2007) from New Zealand through Indian Companies are M/s. Estel Conversion Lab Pvt. Ltd., M/s. Applied Thermal Technologies India P. Ltd., M/s. Island Stone India Pvt. Ltd., M/s. Ibex Gallagher Pvt. Ltd., M/s. Q.E.D. India (P) Ltd., M/s. Light Office Software Pvt. Ltd., M/s. Good World Communication Services P. Ltd., and M/s. Ind Medica Ltd.

 

 

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