Speaking at the India-New Zealand economic forum in New Delhi, Union Minister of Commerce and Industry Piyush Goyal said that bilateral trade between both the countries can grow 10 times from $1.75 billion currently as he projected growth of the Indian economy to $30-$35 trillion in next 20-25 years.
Highlighting agriculture, technology, critical minerals, forestry among potential fields for collaboration, he said that an FTA will reflect India’s people to people links with New Zealand, adding that ideas from the latter can play a big role in increasing tourism in India.
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Using cricketing parlance to describe India-New Zealand relations, Goyal said that India may have won against New Zealand in the recently concluded Champions Trophy, but there are no winners or losers in the bilateral partnership as what he described as an aggressive yet graceful, passionate yet composed partnership between Virat Kohli and Kane Williamson.
New Zealand’s Prime Minister Christopher Luxon agreed on such a partnership working wonders, as he described India as a big geopolitical player in a multi-polar world.
Referring to New Zealand’s successes in sectors like food and beverages and renewable energy, he said that the country is willing to share its decades-long experience in the geothermal energy sector.
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Luxon expressed openness to making a petri-dish for Indian businesses, as he indicated that he is looking forward to signing an FTA within 60 days.
Immediate Past President FICCI and CMD of Mahindra and Mahindra, Anish Shah said that a proposal is underway to send an Indian delegation to New Zealand for direct flights between both the countries.
