India a launchpad for global growth, PM Modi tells New Zealand investors

Prime Minister Narendra Modi has positioned India as a prime destination for global growth, urging New Zealand investors to capitalize on the nation's burgeoning middle class, widespread digital adoption, and significant infrastructure development. Speaking at a business event alongside New Zealand Prime Minister Christopher Luxon in Auckland, Modi highlighted India's policy and political stability as key factors for investment.

"India is the world’s fastest growing major economy. Our growing middle class, large-scale digital adoption and infrastructure push make India a unique growth story," Modi stated, speaking in Hindi. He outlined India's "reform, perform and transform" governance approach and emphasized the continuity of growth, presenting India not just as a market but as a "launchpad for global growth."

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India is the world’s fastest growing major economy. Our growing middle class, large-scale digital adoption and infrastructure push make India a unique growth story.

The recent signing of a free trade agreement between India and New Zealand, finalized in a record nine months, is expected to unlock new opportunities in market access, investment, services, technology, and talent mobility. Both leaders expressed confidence in doubling bilateral trade to $4 billion by 2030. Modi specifically welcomed New Zealand's commitment to invest $20 billion in India over the next 15 years, viewing it as a partnership in India's development.

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In India, we have made reform, perform and transform the foundation of governance. India has policy stability, political stability, and continuity of growth.

Modi also pointed to incentives like the Production Linked Incentive (PLI) scheme, which supports manufacturing across 14 sectors with $20 billion in funding, and the rapid expansion of airports and tourism. He suggested collaborations in areas such as cargo corridors, flight connectivity, joint tourism packages, perishable cargo solutions for products like kiwis and seafood, and leveraging India's consumer market with New Zealand's expertise in horticulture and dairy science to create global export platforms.

Further collaboration is envisioned in linking digital payment systems, advancing green bonds and blended finance, and cooperating in the space sector for small satellites and remote sensing. Modi proposed developing an ambitious joint business roadmap, identifying at least five flagship projects that combine the strengths of both nations and establishing a review mechanism for their timely completion.

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Perishable cargo solutions can be developed for kiwis, apples, honey and seafood. New Zealand has vast expertise in horticulture, dairy science and forestry. India has the strength of its consumer market, food parks and agri-tech talent. Together we can create farm-to-market value chains and global export platforms.