Prime Minister Narendra Modi on Saturday expressed confidence that economic ties between India and New Zealand will witness significant growth, saying the recently concluded Free Trade Agreement (FTA) and New Zealand’s long-term investment commitment will help double bilateral trade by 2030.
Addressing the Business and Sports Engagement event in Auckland, the Prime Minister said the India-New Zealand FTA, concluded in a record nine months, would create new opportunities in market access, investment, services and technology.
“This year, our two countries concluded a Free Trade Agreement in a record time of just nine months. This agreement will create new opportunities for all of you in market access, investment, services and technology. I am confident that together we will double our bilateral trade by 2030,” PM Modi said.
Highlighting New Zealand’s investment commitment, the Prime Minister said the country has pledged USD 20 billion for investments in India over the next 15 years, describing it as a vote of confidence in India’s economic growth story.
“New Zealand has committed to a USD 20 billion investment in India over the next 15 years. This is not just a commitment to investment, but also to being a partner in India’s development journey,” he said.
PM Modi said the event was taking place at a defining moment in bilateral relations, with India and New Zealand formally elevating their ties to a Strategic Partnership.
“This meeting is taking place at a time when relations between India and New Zealand are at a turning point. Today, we are binding our relations within the framework of a Strategic Partnership. This is not merely a diplomatic milestone; it is a new resolve for our shared future,” he said.
Referring to India’s growth aspirations, the Prime Minister said he had come to New Zealand carrying the aspirations of 1.4 billion Indians while commending the innovation and entrepreneurial spirit of New Zealand’s business community.
The remarks came as India and New Zealand adopted the India-New Zealand Strategic Partnership: Roadmap to 2030, which outlines an ambitious framework to deepen cooperation in trade, agriculture, security, innovation and people-to-people exchanges over the next four years.
According to the India-New Zealand Joint Statement, the two Prime Ministers agreed to elevate bilateral ties to a Strategic Partnership and endorsed the Roadmap to 2030 as the framework for advancing cooperation across multiple sectors.
Under the roadmap’s trade and economic cooperation pillar, both countries have set an aspirational target of doubling bilateral trade in goods and services to NZD 7 billion (approximately ₹35,000 crore) by 2030.
The roadmap also provides for cooperation on the next steps to ensure the early entry into force and effective implementation of the India-New Zealand Free Trade Agreement.
Prime Minister Modi is on an official visit to New Zealand from July 10-11 at the invitation of Prime Minister Christopher Luxon. The visit is the first by an Indian Prime Minister to New Zealand in 40 years.
-ANI
