India not just market but launchpad for global growth: PM Modi in New Zealand

Prime Minister Narendra Modi on Saturday pitched India as a global investment destination, telling business leaders in New Zealand that the country is "not just a market, but a launchpad for global growth", 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.

PM Modi also expressed confidence that bilateral trade between the two nations would double by 2030, while highlighting New Zealand's commitment to invest USD 20 billion in India over the next 15 years.

"This is not just investment but also the commitment to be a part of India's growth journey," Modi said.

Describing India as the world's fastest-growing major economy, the prime minister cited the country's expanding middle class, rapid digital adoption and large-scale infrastructure development as key drivers of growth.

"We have made reform, perform and transform the foundation of governance. Today, India offers policy stability, political stability and continuity of growth. That is why our message to the world is clear: India is not just a market, India is a launchpad for global growth," he said.

PM Modi also highlighted opportunities for collaboration in urban development, noting that more than 8,000 projects are underway across 100 cities under the Smart Cities Mission. He invited New Zealand to partner with India in areas such as urban mobility, water management and waste management.

Welcoming Maori business leaders, the Prime Minister said India's civilisational values and Maori traditions “share a deep respect for nature, community and sustainability”. He added that the FTA places special emphasis on creating opportunities for Maori businesses, paving the way for a more inclusive and sustainable trade partnership.

The remarks came as India and New Zealand elevated their ties to a Strategic Partnership and released 18 outcome documents following the summit in Auckland, including 10 Memorandums of Understanding (MoUs) and eight key announcements spanning defence, maritime security, counter-terrorism, disaster management, tourism, agriculture, sports, education and culture.

Among the major agreements were arrangements on maritime cooperation, hydrography, reciprocal logistics support between the Indian Navy and the New Zealand Defence Force, and the establishment of a Joint Working Group on Counter-Terrorism.

The two sides also signed agreements on disaster management, animal husbandry and dairying, tourism, sports cooperation, maritime heritage and cultural exchanges.

The announcements included a target to double bilateral trade to NZ$7 billion (around 35,000 crore) 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.

The two countries also 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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