Prime Minister Narendra Modi on Saturday pitched India as a premier global investment destination, telling business leaders in New Zealand that the country is "not just a market, but a launchpad for global growth". His remarks came as the two nations unveiled an ambitious roadmap to deepen economic and strategic ties following the recently concluded Free Trade Agreement (FTA).
Addressing the India-New Zealand Business and Sports Engagement event, PM Modi said the FTA, signed in a record nine months, would create fresh opportunities for market access, investment, technology, services, and talent mobility. He expressed confidence that bilateral trade between the two nations would double by 2030, whilst highlighting New Zealand's commitment to invest 20 billion US dollars in India over the next 15 years. He noted that this represents not just investment, but a commitment to be part of India's growth journey.
Reiterating the fact that India is the fastest growing major economy in the world, the Prime Minister attributed the growth factors to India's burgeoning middle-class, digitisation, and development of infrastructure on a massive scale. He added that governance is based on reform, performance, and transformation, providing stability in policy, politics, and growth continuity. This, according to him, explains why India has an unequivocal message for the world that it is a launch pad for international expansion and not a mere market place.
Apart from this, PM Modi spoke about the possibilities of cooperation in the field of urban development by pointing out that there are more than 8,000 projects ongoing at present in the 100 cities under the Smart Cities Mission. New Zealand was called upon by the Prime Minister to cooperate in the field of urban mobility, water, and waste management. Speaking to the Maori businessmen, the Prime Minister mentioned that the values of civilisation in India and the traditions of Maori people have a similar understanding of nature and sustainability.
These observations took place against the backdrop of a new strategic partnership between India and New Zealand. The two nations issued 18 documents as a result of the summit held in Auckland, which consisted of 10 Memorandums of Understanding (MoUs) and eight other significant announcements regarding defense, maritime security, counterterrorism, disaster management, tourism, agriculture, sports, education, and culture.
Some of the important agreements signed include those on maritime cooperation, hydrography, mutual logistic support between the Indian navy and the New Zealand defence force, and formation of a joint working group for counter-terrorism. In addition to these, other agreements that were signed include disaster management, animal husbandry and dairy farming, tourism, sports cooperation, maritime heritage, and cultural exchanges.
The announcements included a target to double bilateral trade to 7 billion New Zealand dollars by 2030, the launch of a Maritime Security Dialogue, New Zealand joining the maritime security pillar of the Indo-Pacific Oceans Initiative (IPOI), and its decision to become a member of the Global Biofuels Alliance. Furthermore, the two countries launched a Kiwifruit Action Plan, announced two Centres of Excellence for kiwifruit in Nagaland and Uttarakhand, and signed agreements to strengthen cooperation in Antarctic research and food technology education.
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