A recent Auckland seminar reiterated to the New Zealand audience what rest of the world already knows - doing business with India is not only profitable but also inevitable, says Vaibhav Gangan, Editor, The Global Indian, in www.scoop.co.nz. Gangan's e-magazine can be accessed at www.theglobalindian.co.nz .

Organised by the India New Zealand Business Council and aptly titled 'India Ascends', the seminar was attended by over 100 people from different industries.

"We (in New Zealand ) were late off the mark in realising India's potential," conceded Paul Vaughan, New Zealand's Trade Commissioner to India. "But in the last 10 months alone, the workload at my office has doubled." That growth is not surprising.

India is now New Zealand's fastest growing export market, having seen 71% growth in the latest quarter alone. But what's the hype about India? For businesses, money grows faster there - India's return on investment is the highest in the world at 19% compared to China's at 14% because capital is efficiently used. Which is why, despite attracting only a fraction of foreign direct investment compared to China last year, India is still recording 7%-8% growth, according to Professor Sunil Ashra of the Management Development Institute, India. And this growth is not ad hoc or seasonal. "It's sustainable growth. India 's World Competitiveness Ranking has improved to 29th this year from 55th two years ago, and will improve further," Vaughan said. Well, he is right - India has consistently recorded 6% growth over the last 25 years, higher than any industrialised country.

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( Hyperlink: http://www.scoop.co.nz/storiesHL0606/S00278.htm )