English Translation of Prime Minister's address at the India-New Zealand Business Event
Your Excellency, Prime Minister Christopher Luxon,
Business leaders from India and New Zealand,
Namaskar!
Kia Ora !
I am delighted to be here with all of you in Auckland. I would like to express my special gratitude to Prime Minister Luxon for his positive vision and his deep commitment towards India.
Your presence here reflects New Zealand's spirit of innovation, enterprise, and forward-looking approach. On behalf of India, I have come carrying the aspirations and ambitions of 1.4 billion people.
Friends,
This meeting is taking place at a time when India–New Zealand relations are at a turning point. Today, we are elevating our relationship to a Strategic Partnership. This is not merely a diplomatic milestone; it is a new commitment to our shared future.
This year, India and New Zealand concluded a Free Trade Agreement in a record time of just nine months. It will create new opportunities for all of you in market access, investment, services, technology, and talent mobility. I am confident that, with renewed energy and enthusiasm, we will double our bilateral trade by 2030.
New Zealand has also made an investment commitment of USD 20 billion in India over the next fifteen years. This reflects not only a commitment to investment but also a commitment to being a partner in India's growth journey.
Friends,
Today, India is the world's fastest-growing major economy. Our expanding middle class, large-scale digital adoption, and strong infrastructure push have made India a unique growth story.
In India, we have made Reform, Perform, and Transform the foundation of governance. Today, India offers policy stability, political stability, and continuity of growth.
Therefore, our message to the world is clear: India is not only a market; India is a launchpad for global growth.
To help you take advantage of the opportunities emerging in India, I would like to share a few examples. To boost manufacturing, we have launched the Production Linked Incentive Scheme. Under this initiative, support of nearly USD 20 billion is being extended across 14 sectors, ranging from food processing to textiles. I invite all of you to become a part of this manufacturing momentum.
Airports, regional connectivity, air cargo, and tourism are expanding rapidly in India. Today, India is the world's third-largest domestic aviation market. Together, we can develop cargo corridors, strengthen flight connectivity, and create joint tourism packages.
Perishable cargo solutions can be developed for kiwi, apples, honey, and seafood. New Zealand has extensive expertise in horticulture, dairy science, and forestry, while India offers the strength of a vast consumer market, food parks, and agri-tech talent. Together, we can build farm-to-market value chains and global export platforms.
Today, India is a global leader in FinTech. Around 50% of the world's real-time digital payments are processed in India. Building on this strength, we can deepen our cooperation not only in digital payments but also in green bonds and blended finance.
We have opened the space sector to private participation. Today, India is home to more than 400 space start-ups, and the sector has already produced its first unicorn. Companies from both our countries can collaborate within India's space ecosystem in areas such as small satellites, remote sensing, and ocean monitoring.
Under India's Smart Cities Mission, work is underway on more than 8,000 projects across 100 cities. Together, we can collaborate in areas such as urban mobility, water management, and waste management.
Friends,
I extend a special welcome to the Māori business leaders present here. India's civilization and Māori traditions both share a profound respect for nature, community, and sustainability. Our Free Trade Agreement also gives special emphasis to opportunities for Māori businesses. By building on these shared values, we can create a new model of inclusive and sustainable trade.
Friends,
I propose that we jointly develop a highly ambitious Business Roadmap. By combining our strengths, we should identify at least five flagship projects and establish a time-bound review mechanism to ensure their successful implementation. Only then will we be able to fully realize the potential of our partnership and live up to the aspirations and expectations of the people of both our countries.
I invite all of you to join us in this journey and move forward shoulder to shoulder.
Let us make our partnership a platform for prosperity, a bridge for innovation, and a force for global good.
And I want India and New Zealand to emerge together as a new force.
I have one more request. As you just mentioned, this year marks 100 years of sporting ties between our two countries. This is a very significant milestone.
We will certainly celebrate this milestone. But can we also think of bringing a large delegation of business leaders under the age of 35 from New Zealand to India, and likewise, sending a delegation of business leaders under the age of 35 from India to New Zealand? In this way, we can prepare a new generation to carry this partnership forward.
With these good wishes, I thank you all very much.
DISCLAIMER -This is the approximate translation of Prime Minister's remarks. Original remarks were delivered in Hindi.
***
MJPS/SS/ST