Prime Minister Narendra Modi, speaking at the Business and Sports Engagement event in Auckland, expressed confidence that the India-New Zealand Free Trade Agreement (FTA), concluded in a record nine months, will double bilateral trade by 2030. He also highlighted New Zealand's commitment of USD 20 billion in investment over the next 15 years, calling it a partnership in India's development journey.
Historic FTA and Investment Commitment
"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," PM Modi said. He emphasized that the USD 20 billion investment from New Zealand reflects strong global confidence in India's economic trajectory.
Elevation to Strategic Partnership
PM Modi noted 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," he said, 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.
Roadmap to 2030
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."
Trade Targets Under Pillar III
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.
First PM Visit in 40 Years
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. The visit underscores the deepening ties between the two nations, with the FTA and investment commitment poised to unlock unprecedented opportunities across sectors.
