Prime Minister John Key launched the NZ Inc India Strategy at the Cloud in Auckland today.
“This is the first of what will be many NZ Inc country and regional strategies that will set ambitious medium term goals and provide a clear direction for the whole of government effort over a five year period,” Mr Key said.
“Our relationship with India has always been friendly and warm and we have seen good growth over the past few years. Two-way trade is worth more than $1.2 billion per year and India has become our third-largest source of international students and our 10th largest source of visitors.”
The strength of the relationship is underpinned by the Indian community in New Zealand, which numbers over 100,000.
The Strategy brings government agencies together to work collectively. It has a strong trade and economic focus but also looks at building political and diplomatic ties.
It outlines why New Zealand businesses should be looking at India and gives them information they need to do business there.
The Strategy includes a set of six goals that specify action such as negotiating the FTA, and growing links in key sectors such as agri-tech and high-value manufacturing and technologies.
“There are good reasons for a strategy. India has emerged as a major Asian power and economic hub and while it is currently the world’s 10th largest economy, its growth rate is second only to China’s among the world’s major economies,” Mr Key said.
“India also has a growing middle class and a youthful and increasingly well educated population. We need to make the most of the opportunities India provides.
“I witnessed those opportunities when I visited India in June. The India Strategy is the framework we need to realise that potential. It is the first step towards realising the full and exciting potential of the India-New Zealand relationship.”
In addition to India, strategies are being developed on China, the US, Australia, South East Asia, Middle East, and the European Union.
