PM Modi invites New Zealand businesses to invest as strategic ties deepen

India and New Zealand on Saturday (July 12) placed business, investment and trade at the centre of their upgraded strategic partnership, with Prime Minister Narendra Modi inviting New Zealand companies to invest across key sectors, while New Zealand Prime Minister Christopher Luxon urged businesses from both countries to seize new market opportunities created by the recently signed Free Trade Agreement (FTA).

‘India is a launchpad’

Addressing a gathering of CEOs and business leaders at the "India-New Zealand: A Winning Partnership" event in Auckland, Modi said India is no longer just a vast consumer market but a global growth engine.

"India is not only a market; India is a launchpad for global growth," Modi said, highlighting the country's policy stability, political continuity and reform-driven governance.

Also read: India-New Zealand elevate ties to strategic partnership, set Rs 35,000 cr 2030 trade target

The interaction came shortly after Modi and Luxon held wide-ranging bilateral talks that produced 18 key outcomes, including 10 agreements and the elevation of India-New Zealand ties to a strategic partnership.

FTA to deepen business ties

Modi said the landmark India-New Zealand Free Trade Agreement, signed in April this year after being negotiated in a record nine months, would significantly deepen bilateral economic engagement.

"This will open new opportunities for market access, investment, services, technology and talent mobility for all of you," he said, expressing confidence that bilateral trade would double to NZD 7 billion (around Rs 35,000 crore) by 2030.

He also announced that New Zealand has committed to invest USD 20 billion in India over the next 15 years. "This is not just about investment, but also a commitment to participate in India's development journey," Modi told business leaders.

Investment opportunities

Highlighting India's economic growth, Modi said the country remains the world's fastest-growing major economy, backed by a rapidly expanding middle class, widespread digital adoption and large-scale infrastructure development.

Also read: 57 per cent of exports to India will be tariff-free under FTA: New Zealand PM

He pointed to the government's Production-Linked Incentive (PLI) scheme, under which nearly USD 20 billion is being provided across 14 sectors ranging from food processing to textiles, and invited New Zealand businesses to become part of India's manufacturing expansion. "I invite all of you to be a part of this manufacturing momentum," he said.

Identified areas of collaboration

Modi also encouraged investments in infrastructure, logistics, clean energy, urban mobility, water management, waste management and the digital economy. He identified dairy, agriculture and food processing as natural areas of collaboration.

"New Zealand has vast expertise in horticulture, dairy science and forestry. India has strengths in the consumer market, food parks and agri-tech talent. Together, we can build farm-to-market value chains and global export platforms," he said.

The Prime Minister also called for deeper private-sector collaboration in innovation, fintech and emerging technologies, saying the India-New Zealand economic partnership could become a model for inclusive and sustainable trade while creating new opportunities for innovation and prosperity.

Luxon hails India's transformation

Speaking at the event, Luxon described India's economic transformation under Modi's leadership as "incredible" and encouraged businesses from both countries to deepen engagement.

"I've been a great fan of India for a long period of time," Luxon said, recalling his first visit to India in the mid-1990s while working for Unilever. He said he had witnessed India's remarkable journey from a low-income economy to an emerging middle-income powerhouse.

"It's interesting to me that under Prime Minister Modi's leadership, he has lifted 250 million people out of poverty. There are now 440 million people in the middle class, and about to be 750 million by the end of the decade," Luxon said.

Also read: India-New Zealand free trade agreement: Here are the highlights

"As someone who has been to India many times and to see the move from low income to middle income to high income, it is just so inspiring and so exciting to see the transformation that has taken place."

Businesses urged to seize opportunities

Luxon said there was enormous potential for collaboration in food and agricultural products, tourism, education and technology.

Referring to Austrian neurologist and psychiatrist Viktor Frankl's idea that governments, businesses and communities are the three key actors in society, he urged all stakeholders to work together to unlock the full potential of the bilateral relationship.

"I encourage all of you... responsibility for this relationship also sits with you. We wish you all the very best as you open up new markets and new opportunities by working together," he told business leaders.

He also urged New Zealand companies to understand India's consumers and business landscape before entering the market. "Learn about the markets, find the right partners, understand how to tailor your product and service to create opportunities both in India and here in New Zealand as well," Luxon said.

Modi concluded by reiterating that the shared democratic values, diversity and commitment to sustainable development of both countries provide a strong foundation for a forward-looking economic partnership, with the private sector expected to play a key role in driving the next phase of bilateral growth.