Prime Minister Narendra Modi said on Saturday that India and New Zealand have enough to complement each other and the two countries can together become a global power.
On the last leg of his three-nation tour, having arrived in New Zealand, Mr. Modi, while addressing representatives of industries from both countries at a business program here, said that today India is the world's fastest-growing major economy. India's middle class, large-scale digitization, and rapid development of infrastructure make the country's growth story unique. He said, "And I want India and New Zealand to emerge together as a new power."
The Prime Minister said that at present, there is policy and political stability in India. India is not just a market, India is the engine of global growth.
He advised both countries to utilize the full potential of their relations. Appealing to New Zealand's traders to work together with India, he said, "Let's make our partnership the foundation of prosperity, the moment of invention, and the power of global well-being."
Referring to the free trade agreement between the two countries that took place just nine months ago, Mr. Modi said that it will bring new opportunities for New Zealand's institutions to access the Indian market, investment, services, technology, and mobility of skills. He expressed confidence that trade between the two countries will double by 2030.
Welcoming New Zealand's commitment to invest $20 billion in India over the next 15 years, he said that this is not just an investment, but also a commitment to become a partner in India's development journey.
Informing about the steps taken by the government to promote industry in the country, the Prime Minister said that in India, airports, regional connectivity, air cargo transport, and tourism are growing rapidly. India is today the world's third-largest domestic aviation market. He said, "We can create cargo corridors, air connectivity, and joint tourism packages together."
He said that cargo solutions can be developed for perishable items like kiwi, apple, honey, and seafood. New Zealand has vast expertise in horticulture, dairy science, and forestry.
India has a treasure trove of potential in the consumer market, food parks, and agricultural technology sector. Both countries can together create an agriculture-to-market value chain and a global export platform. He invited New Zealand's traders to work together in areas like fintech, space, urban transport, water management, and waste management.