Auckland: The landmark India-New Zealand free trade agreement would add depth and dynamism to the bilateral economic ties and open new opportunities for market access, investment and talent mobility, Prime Minister Narendra Modi said on Saturday, July 11.
In an interaction with a select group of CEOs and business leaders, PM Modi emphasised that the two nations’ shared democratic values, diversity, and commitment to sustainable development provide a robust foundation for an ambitious, forward-looking economic partnership.
The prime minister made the remarks shortly after holding wide-ranging talks with his New Zealand counterpart Christopher Luxon that produced 18 key outcomes including elevation of the bilateral relations to the level of strategic partnership.
Modi landed in Auckland on Friday on the final leg of his three-nation tour that largely focused on expanding economic and security cooperation. It is the first visit to New Zealand by an Indian prime minister after a gap of 40 years and comes after the recent finalisation of a free trade agreement.
“A stronger economic partnership between India and New Zealand will create new opportunities for businesses, innovators and our youth,” Modi told the business leaders.
The prime minister said India and New Zealand have taken a historic decision to elevate the relations to the level of strategic partnership.
“Under this, we will move forward in every sector with clear goals and concrete outcomes,” he said.
Modi described the India-New Zealand free trade agreement as a “landmark” initiative that would add depth and dynamism to the bilateral economic ties, and open new opportunities for market access, investment, services, technology and talent mobility.
The prime minister underscored that India’s sustained high growth coupled with young and skilled workforce, expanding middle class, digital revolution, next-generation infrastructure push, and continuing economic reforms, offer significant opportunities for trade and investment for companies in New Zealand.
He noted that political stability and sustained growth path has positioned India as a significant contributor to global growth.
Modi invited New Zealand investors and business houses to partner India in infrastructure development, civil aviation, logistics, clean energy, urban mobility, water management, waste management and digital economy sectors.
Speaking about India’s start-up ecosystem, he called for closer engagement between the private sectors of both countries in the fields of innovation, fintech and emerging technologies.
The prime minister noted that New Zealand’s strengths in dairy science, horticulture, and forestry, and India’s consumer market, food parks and agri-tech talent should come together to create global food value chains.
Modi also called upon the business leaders to expand investment and commercial partnerships and help realise the target of doubling bilateral trade to NZD 7 billion (approximately INR 35,000 crore) by 2030.
He emphasised that the India-New Zealand economic partnership could become a model for inclusive and sustainable trade and a platform for innovation and prosperity.
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