"Will double bilateral trade by 2030": PM Modi hails India-New Zealand FTA, USD 20 billion investment commitment

Auckland [New Zealand], July 11 (ANI): Highlighting the historic Free Trade Agreement (FTA) and a massive investment commitment, Prime Minister Narendra Modi on Saturday expressed absolute confidence that economic ties between India and New Zealand are poised for a major leap, with a target to double bilateral trade by 2030.
Delivering his address at the Business and Sports Engagement event in Auckland, PM Modi stated that the India-New Zealand FTA, concluded in a record nine months, would unlock unprecedented opportunities across sectors.
"This year, our two countries concluded a Free Trade Agreement in a record time of just nine months. This agreement will create new opportunities for all of you in market access, investment, services and technology. I am confident that together we will double our bilateral trade by 2030," the Prime Minister said.
Emphasising New Zealand's long-term financial commitment, PM Modi noted that it reflects strong global confidence in India's economic trajectory.
"New Zealand has committed to a USD 20 billion investment in India over the next 15 years. This is not just a commitment to investment, but also to being a partner in India's development journey," he added.
The Prime Minister pointed out that the event marks a historic turning point, as both nations formally elevated their ties to a Strategic Partnership.
"This meeting is taking place at a time when relations between India and New Zealand are at a turning point. Today, we are binding our relations within the framework of a Strategic Partnership. This is not merely a diplomatic milestone; it is a new resolve for our shared future," PM Modi said, while praising New Zealand's business community for its innovation and enterprise.
"From India, I have come bearing the message of the aspirations and ambitions of 140 crore people," the PM told the gathering.
The development coincides with India and New Zealand officially adopting the "India-New Zealand Strategic Partnership: Roadmap to 2030." This roadmap establishes an ambitious framework to deepen cooperation across trade, agriculture, security, innovation, and people-to-people ties over the next four years.
According to the India-New Zealand Joint Statement, the two Prime Ministers "decided to elevate the bilateral relationship to a 'Strategic Partnership'" and endorsed the roadmap to "guide joint action over the next four years."
The Joint Statement added that both leaders "agreed to an ambitious long-term vision for the Strategic Partnership, which aims to take bilateral relations to a new level, strengthen existing cooperation mechanisms and explore new avenues for deepening cooperation, both bilaterally and multilaterally."
Prime Minister Narendra Modi is currently on an official visit to New Zealand from July 10-11, at the invitation of New Zealand Prime Minister Christopher Luxon. This marks the first visit by an Indian Prime Minister to New Zealand in 40 years.
Under Pillar III of the newly adopted Roadmap on Trade and Economic Cooperation, both nations have agreed to "work towards an aspirational goal of doubling bilateral two-way trade in goods and services to NZ$7 billion (₹35,000 crore) by 2030."
The roadmap further outlines that both sides will "work together on next steps for the India-New Zealand Free Trade Agreement to ensure its early entry into force and effective implementation."
Echoing this commitment, the Joint Statement concluded that the two Prime Ministers "welcomed the conclusion and signature of a balanced, comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA)" and agreed to ensure its swift execution. (ANI)