PM Modi invites New Zealand investors to partner India in key sectors
Auckland, July 11
Prime Minister Narendra Modi on Saturday 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.
Hailing India's vibrant startup ecosystem, PM Modi called for closer engagement between the private sectors of both countries in the fields of innovation, fintech and emerging technologies.
Addressing a select group of CEOs and business leaders, PM Modi 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.
The Prime Minister encouraged businesses to expand investment and commercial partnerships and help realise the target of doubling bilateral trade to 7 billion New Zealand dollars (approximately Rs 35,000 crore) by 2030.
PM Modi emphasised that India-New Zealand economic partnership could become a model for inclusive and sustainable trade and a platform for innovation and prosperity.
In the presence of New Zealand Prime Minister Christopher Luxon at the event, PM Modi said India and New Zealand are bound by shared democratic values, respect for the rule of law, diversity, and a common commitment to sustainable development, providing a strong foundation for an ambitious and forward-looking economic partnership.
He described the India-New Zealand Free Trade Agreement (FTA) as a landmark deal that would add depth and dynamism to the bilateral economic ties, and open new opportunities for market access, investment, services, technology and talent mobility.
According to an official statement, PM Modi also 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, investment, and innovation for companies in New Zealand.
The Prime Minister noted that political stability and sustained growth path has positioned India as a significant contributor to global growth.
— IANS
Reader Comments
I'm cautiously optimistic. The FTA sounds promising, but we've heard similar things before. Need to ensure Indian farmers and small businesses also benefit, not just large corporations. The dairy sector in particular needs protection from subsidised imports.
As someone who works in fintech, this is exciting. New Zealand has a very innovative startup ecosystem and Indian talent could complement that well. The digital economy partnership could be a game-changer for both countries.
Good to see India building bridges with democratic nations. But let's be honest - India needs to improve ease of doing business first. Foreign investors still face too much red tape and bureaucratic hurdles. Talk is cheap, actions matter! 💪
Infrastructure and clean energy are exactly where New Zealand can add value. They have world-class expertise in renewable energy and sustainable urban planning. Hope this translates into actual projects on the ground, not just MoUs.
Finally, some concrete focus on bilateral trade with New Zealand! We've been under-trading for decades. The shared democratic values and commonwealth links should have been leveraged long ago. Better late than never. 👏
As an economist, I see real
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