New Zealand'S Prime Minister Has Signed A Free Trade Agreement With India

A few days ago, New Zealand Prime Minister John - Ji said publicly that although he firmly supports the new China Free Trade Agreement (FTA), signing the FTA with India will help New Zealand avoid over reliance on the Chinese market.

At present, China is the largest bilateral trading partner of New Zealand.

Up to June 2013,

It is the fifteenth largest bilateral trading partner of New Zealand and bilateral trade volume is 1 billion 100 million NZD.

At the India New Zealand chamber of Commerce summit in Oakland, John Ki stressed that he strongly supported the Sino Singapore Free Trade Agreement. But he also pointed out that when the bilateral trade volume increased rapidly, new Zealanders would worry too much about the Chinese market.

He said that when Britain was still in the South Pacific farm, New Zealand had already relied too much on one market.

In recent years, New Zealand has been consulting with India.

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After 18 months of silence, the two sides have just completed the tenth round of talks recently.

John Ki said that there should be breakthroughs in the New Zealand and India free trade agreements and the hope that India companies will lobby the India government.

Rupert Holborow, who is responsible for negotiations on the free trade agreement with the Ministry of foreign trade and trade in New Zealand, has revealed that there is a "considerable distance" between the two countries in reaching a comprehensive free trade agreement.

"It's hard to achieve in the short term, and there will be a long and arduous road ahead."

In addition to India,

Negotiations on free trade agreements with countries such as South Korea, Russia, Belarus and Kazakhstan are also being conducted.

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Faced with the popularity of India's luxury market, it is inevitable that some people will compare it with the previous Chinese luxury market.

Raha Chadha, an expert on luxury consumption in India, has discussed the question in his book "brand name first: Asian luxury craze" in a chapter. Will India be the next China?

After the financial crisis, the shrinking of luxury consumption in the traditional market has led luxury companies to turn their attention to the emerging markets, especially the BRICs (China, Russia, Brazil, India, South Africa) that are enjoying rapid economic growth.

As the second largest country after China, India has high hopes. India has become the fourth largest luxury consumer in the world.

From this point of view, India's luxury consumption is still less than China's 1/10.

In 2009, the figure was 600 million euros (and China was 6 billion 600 million euros), accounting for only 5% of the total global luxury consumption.

Nevertheless, a report released by Bernstein research firm in April 2010 said that in the next 10 years, India will become a major market for luxury consumption in Asia.

Bain&Co. has also predicted that the annual growth rate of India's luxury market will reach 25% in the next 3 years.

As the European market stabilizes and the Chinese market encounters Waterloo, luxury brands are looking for their new growth market. India is clearly one of the goals.

LV is the first luxury brand to open in India.

The famous Chanel has a boutique in India.

Several other first-line international brands, such as Prada, Max Mara and Ralph Lauren, still do not appear in the India market.

Some brands are between the two and are preparing to land in India.

Kalyani Chawla, vice president of marketing and public relations at Dior, insists that India is just a toddler in luxury sales.

Chawla said: "like most of the first-line brands in the global market, Dior sales in India are also growing steadily."

Although China is widely recognized as a luxury consumer, it is important to ignore that India is catching up.

However, compared with China, infrastructure construction in India is lagging behind. There are no good roads, airports and high-rise buildings. There are no commercial boulevards in India's main cities and no high shopping centers. In addition, India has high tariffs on imports (such as tariffs on imported watches up to 50%), which are all factors that hinder the promotion of luxury brands.

"One of the problems that luxury companies need to face now is the consumption habits of the wealthy in India.

Many of the wealthy people I know in India prefer to fly thousands of kilometers to Paris, London or Milan to buy luxury goods, and do not want to visit the New Delhi shopping center which can be driven in half an hour.

Because compared with the shopping malls in India, the foreign shopping atmosphere is better, and the style of the products is updated and the prices are more reasonable.

Alex, a Chinese staff member of an electronics company in India, told reporters that India does need more luxury stores or channels to meet the needs of the rich.