‘India A Strategic Priority For New Zealand,’ Says Trade Minister Todd McClay

Added: 2026-05-07

[00:00:00]New Zealand has also committed $20 billion in investments with sectors in India are going to be the biggest focus.

[00:00:08]You've spoken about filling that skill gap as well. So what are we really looking at here?

[00:00:14]>> Yes. So it's over a 15-year period.

[00:00:16]We've taken on a commitment to promote investment. In return, the Indian government has agreed to set up a single desk to make it easier for New Zealand and New Zealand companies to invest in India. And I think it will be very very broad over the next 15 years. Uh we will uh take our commitment to promote investment very seriously. We'll do trade missions and investments missions.

[00:00:37]We will help New Zealand companies get to that market. I think you will see it in high-tech food production. A lot of the innovation we have in New Zealand where New Zealand companies will want to partner with Indian companies to you know produce more for the Indian market or to export all around the world as India and New Zealand sign more trade agreements with others. already uh when we did the signing a New Zealand company a fintech company signed an agreement uh with uh India's third largest back access uh to provide some of their technology and services to help deliver better uh better outcomes and and performance to their customers and that company will set up an office in India and employ New Zealanders and Indians there and so that's the type of investment I think we will see over that period of time New Zealand is already a very open market I know that there are Indian companies that want to invest here, they are very welcome. We think this agreement is going to help grow this relationship quite significantly in both directions >> and I was just going to come to that as well. How important do you assess New Zealand's partnership with India beyond trade of course? How will this FDA deepen let's say technology services partnerships between the two economies?

[00:01:45]Um and where are some of the other areas where cooperation uh can be strengthened?

[00:01:52]Well, we were able to negotiate and conclude this agreement in nine months uh with about two years of getting to know each other and talking. That's a very fast conclusion to such a high quality agreement. It shows that we have built on the relationship government to government and the two governments like and trust each other. That's a very clear signal to the business community in our two countries that we want them to do more. The New Zealand government through our prime minister Chris Luxon has said our relationship with India is a strategic priority and we are looking at many areas to cooperate from uh defense to people-to-people to film to culture certainly to sport and of course trade and so I think this agreement is only the start of the areas that we see uh this will grow you know we're already working very well together internationally minister P goal and I work well together in the WTO we agree on many things and So when India and New Zealand can find ways to work together internationally, it will be to the betterment of the business community in both of our countries. Uh you should see this trade agreement is only the start.

[00:02:56]Where it goes now is up to the business community. But Minister Goyal and I and our two prime ministers have said we will put every effort in to make sure that this highquality agreement that was negotiated so quickly uh stands the test of time and actually is the bedrock of what is going to become a very important relationship for both India and New Zealand and our governments.

[00:03:17]>> All right. So this is only just the beginning. You've called this deal a source of certainty in a volatile world.

[00:03:23]We know what is happening in the geopolitical landscape at the moment.

[00:03:26]The straight of war moves is a live combat zone. How exposed is New Zealand's trade and energy supply chain to that?

[00:03:33]>> Well, we as with most of the world, we get a lot of our fertilizer and our oil and other things comes from the Gulf. Uh we stood up our ministerial group at the very beginning of this crisis to focus on making sure we have the supplies that we need. We produce enough food to feed about 40 million people around the world and many countries depend upon that. So we have an obligation uh to produce it and to sell it. As with everybody, it is the price of these inputs that is having the biggest effect upon the New Zealand economy. But an agreement like ours with India in itself is a bet or a hedge against challenges like this going into the future. There are always going to be political upset and and division around the world. This trade agreement says India and New Zealand now have a set of rules that we will honor and we commit to and that creates certainty for our businesses to invest and work together and in an uncertain world for two countries like India and New Zealand to come together and sign on a piece of paper you know these commitments we say we will honor is extremely important. It says to the world that actually as everywhere it becomes more uncertain the governments of India and New Zealand want to provide certainty to our businesses and we are going to generate more trade and therefore greater incomes for our citizens as a result.

[00:04:55]>> All right and I have to ask how do you view the partnership between Prime Minister Modi and Prime Minister Luxen and under their leadership the people-to-people ties that are being strengthened between the two nations.

[00:05:07]It's very it's very important. I know the two men have great respect for each other. I've just been in Singapore signing another deal around essential supplies with my prime minister a day or so ago. He speaks very warmly of his relationship with Prime Minister Modi and has a great deal of respect uh for him. Uh uh they have been able to talk in many occasions and actually as a result of the two of them telling Minister Goyle and I to go as fast as we can to do a high quality deal. It gave us the ability to achieve something that few other countries in the world could achieve. And so, you know, there's a lot of respect from New Zealand towards Prime Minister Modi and his achievements. We have decided as a government we want to join them and help do our little bit to to allow, you know, India to grow and to continue to be a very positive presence on the world's very positive presence on the world stage.

[00:05:58]>> The world moves fast. Power shifts.

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[00:06:27]This is Himorya for First Post Vantage.