People walk along a street in Mumbai, India. The country is expected to soon become the world's third-largest economy. Photo: INDRANIL MUKHERJEE / AFP
A new report says New Zealand needs to supercharge efforts to secure trade opportunities with India or risk being left behind.
The India-New Zealand Business Council's report said the government needed a long-term strategy to increase trade with India, which is expected to soon become the world's third-largest economy.
That meant chasing opportunities in education, finance and primary production sectors, and boosting tourism and immigration.
Executive director of the International Business Forum, Stephen Jacobi, said the countries should look for opportunities for greater co-operation, rather than a full-scale trade agreement.
"There are a lot of things we can do that can share New Zealand's expertise and approaches in return for some commercial outcomes, not in the context of an overarching trade agreement, but in some more discreet ways, maybe better access, maybe trade facilitation, in return for more investment and more cooperation from New Zealand.
"Agriculture and horticulture, I think, is one.
"The other one that we can work on, in my view, is in the technology sphere - India is a powerhouse around technology, New Zealand has niche technologies in a whole range of areas, we need to get those two sectors working together to see what might be possible."
Jacobi said there could also be opportunities for young people to travel between the two countries for work experience and to ease labour shortages.
