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“India is today a land of limitless opportunities,” Commerce and Industry Minister Hon Anand Sharma told an India-New Zealand joint business forum of about 60 people in Wellington on 10 May 2011.
The Minister was on a two day trip to New Zealand with a large trade and business delegation from India. He also spoke to businesses and exporters in Auckland and met Prime Minister John Key and Trade Minister Tim Groser.
Mr Sharma said New Zealand and India had a lot in common sharing democratic traditions, being multi-cultural, shared aspirations and having similar regional interests.
India and New Zealand were engaged in a relationship which is “special and important” in terms of its bilateral, regional and global context. There was potential to multiply our engagement and opportunities.
Mr Sharma said of the free trade agreement that India and New Zealand are negotiating: “I’m sure we will be able to conclude it …. sooner rather than later.”
The world had undergone a period of major change and the developed countries of the West were now being joined by many more countries with strong developing economies, particularly in Asia.
The global recovery had been led by countries such as China, India and Brazil. There was also good potential growth in Russia and central Asia which contained minerals, materials and energy resources.
“Asia is home to 50% of the world’s population. In our lifetimes the GDP of Asian countries will exceed the developed countries,” he said. “India is one of the fastest growing economies in Asia.”
“India has consciously and sincerely taken steps to consolidate relationships” with neighbouring countries. Agreements had been signed with Malaysia and Japan, South Korea, Singapore and ASEAN. Negotiations were underway with Thailand and New Zealand.
Mr Sharma said the ASEAN community, founded in 1967, was a region of valuable economic growth and Japan remained important to this growth despite the tragedies – earthquake, tsunami and nuclear - it had faced.
The forum was organised by the India New Zealand Business Council and Federation Indian Chambers of Commerce and Industry.
