Addressing the India-New Zealand business event in Auckland on Saturday, Prime Minister Narendra Modi described the strategic partnership and the Free Trade Agreement (FTA) between the two nations as the beginning of a new era of economic cooperation. He stated that India and New Zealand would move forward with the goal of doubling bilateral trade by 2030 and would capitalise on new opportunities in investment, technology, services, and talent exchange.
Strategic Partnership: A Commitment to a Shared Future
Prime Minister Modi remarked that relations between India and New Zealand are at a pivotal juncture. He described the strategic partnership not merely as a diplomatic achievement, but as a renewed commitment to a shared future. He commended the finalisation of the FTA in a record nine months under the leadership of Prime Minister Christopher Luxon.
Welcoming $20 Billion in Investment
PM Modi noted that New Zealand has pledged an investment of $20 billion in India over the next 15 years. He stated that this represents not just investment, but a vote of confidence in becoming a partner in India’s growth journey. Describing India as the world’s fastest-growing major economy, he highlighted that a rising middle class, digital transformation, and robust infrastructure are establishing India as a key hub for global investment.
Investment Opportunities Ranging from Manufacturing to Space
The Prime Minister mentioned that support worth approximately $20 billion is being provided across 14 sectors in India under the Production Linked Incentive (PLI) scheme. He invited New Zealand companies to become part of this manufacturing drive. He also called for enhanced partnerships in sectors such as aviation, air cargo, tourism, horticulture, dairy science, forestry, agri-tech, fintech, green finance, smart cities, and space.
Emphasis on Cooperation in Space and Digital Sectors
PM Modi highlighted that over 400 space startups are operating in India, with one having already achieved ‘unicorn’ status. He suggested that companies from both nations could collaborate in areas such as small satellites, remote sensing, and ocean monitoring. He also noted that India accounts for 50% of the world’s real-time digital payments and suggested that both nations could enhance cooperation in digital payments, green bonds, and blended finance.
Special Focus on the Māori Community and Young Entrepreneurs
Highlighting Māori business leaders, Prime Minister Modi remarked that Indian and Māori traditions share a common respect for nature, community, and sustainable development. He proposed identifying five key flagship projects between the two nations and formulating a time-bound business roadmap. Additionally, he suggested an exchange of bilateral delegations comprising young entrepreneurs under the age of 35 to foster strong business ties among the new generation.
