During his official visit, Prime Minister Narendra Modi emphasized on India’s rapid economic growth and the opportunities that lie ahead in the global economy as he met with business leaders in Auckland. He termed India as the world’s fastest growing major economy, highlighting that policy stability, political continuity and investor-friendly environment are key factors.
PM Modi stated that he is optimistic that India-New Zealand bilateral trade would grow to double by 2030 and emphasized further strengthening India-New Zealand economic ties. He also highlighted India’s progress in the field of digital payments and fintech, claiming that India has become a front-runner in the field of financial technology. The Prime Minister also observed the extent of participation of private entities in the space sector has given rise to almost 400 space-tech startups, which has opened up new avenues of innovation and investments.
Modi said the ties between the two countries have become a “turning point” and the partnership is moving towards a strategic partnership on shared values and mutual growth. His visit is not only a diplomatic one but also an an effort towards a march of a more promising future along the way of the two countries,” he added.
New Zealand Prime Minister Christopher Luxon praised India’s remarkable transformation under Modi’s leadership, highlighting that over 250 million people have been lifted out of poverty. He added that India now has a middle class of about 440 million, which will grow to 750 million by the end of this decade.
PM Modi also spoke with the Indian community, emphasising the cultural linkages between the two countries, including their shared effort to protect traditional culture. He stated that learning from all countries is very important for India and that what is important for any country is its commitment towards its citizens and not its population size, thus reinforcing India’s priority to inclusive growth and international partnerships.