New Zealand-India Trade Alliance (NZITA)
recently hosted a Journey to India Series event on May 6, 2021. The event was held in Auckland on Thursday, May 6, 2021 at the EY Building and the keynote speaker was Sir William Gallagher, President and CEO of the Gallagher Group.
Sir William, a distinguished and distinguished businessman in New Zealand and abroad, even before the crime was committed, spent 150 days a year traveling the world and strengthening relationships with suppliers, customers and staff. Sir William charmed a large audience with his witty anecdotes from all over the world. He gave us an excerpt from the huge number of projects that his company has implemented in India. The Gallagher Group has about 26 companies around the world, where it works with local partners who are shareholders of the enterprises.
To be successful in the Indian market, Sir William Gallagher emphasized:
- Long term relationship
- Collaboration with local partners
- Be prepared for the long haul as the Indian market can be difficult at times.
- Transparency and general goals
Giri Gupta, Chairman
welcomed the speakers and audience and thanked EY for organizing the event.
Surinder Ogra, Secretary General provided updated trade information and highlighted:
- There is no specific trend towards any shift in supply chains outside of one country. It may be too early to spot the trend, but corporations and even some governments are actively promoting alternative supply chains. India is prominent as an alternative manufacturing or supply base.
- In 2020, exports remained at $ 57 billion, while imports fell $ 7 billion, helping New Zealand move from a $ 4 billion trade deficit to a $ 3 billion trade surplus. Imports fell sharply due to the fact that the volume of imports of petroleum products and vehicles did not reach the previous level.
- Trade flow with India at $ 1.2 billion is slightly less than in 2019, when it was $ 1.4 billion.
Surinder Ogra then introduced Sir William Gallagher and listed all the awards and accolades he received during his journey.
The Honorable Dr. Richard WorthThe Vice Chair said in his Thank You Vote that NZITA is committed to providing unique value propositions to its members and the general public.
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