Finance
S. Jaishankar, India’s External Affairs Minister, told the Indian community in New Zealand that increased cooperation between the two countries is possible in areas such as business, technology, and education.
“Stronger cooperation will ensure peace, prosperity and progress of our common region. Possibilities abound in business, digital, agriculture, education, skills, traditional medicine and maritime security domains,” Jaishankar, wrapping up his first visit to New Zealand, tweeted.
The minister said during the opening of the new Indian High Commission Chancery in Wellington on Sunday that the relationship between the two countries is “due for an update” and “due for a refresh.”
With total two-way trade valued at $1.80 billion in the fiscal year ending September 2020, India is New Zealand’s 11th largest two-way trading partner. Education and tourism are two of New Zealand’s fastest growing industries in India.
India’s primary imports are logs and forestry products, wood pulp, wool, and edible fruit and nuts. Pharmaceuticals/medications, precious metals and gems, textiles and motor vehicles, and non-knitted apparel and accessories are the most common Indian exports to New Zealand.
“The more sensible way of growing our relationship is really to play with each other’s strengths. We must find ways for doing more business because, at the end of the day, business is good for any relationship. For once if there is a strong business foundation to a business relationship, that relationship is truly strong and steady,” he said, inaugurating the new Indian High Commission Chancery in Wellington.
According to media reports, several New Zealand companies, including Rakon, Glidepath, and RML Engineering, have accepted the Indian government’s invitation to “Make in India” and have invested in establishing operations in the country.
“India is open for business, that we would like to see more of New Zealand, and there are areas where you have experiences, best practices and capabilities that make a big difference. And if those in some way be deployed in India, can be deployed through your own initiatives, partnerships with Indians and joint ventures it would be something that we would value and you will benefit from,” Jaishankar said.
Earlier, while participating in the ‘Vishwa Sadbhavana’ event which was a part of the Kiwi Indian Hall of Fame awards, Jaishankar said, “The love and respect for the Indian diaspora is now an important part of India’s foreign policy.”
Indians make up 5% of the New Zealand population. According to a Ministry of External Affairs report, there are 240,000 Indians in New Zealand, including 1.6 lakh people of Indian origin and 80,000 non-resident Indians. In New Zealand, Hindi is the fifth most widely spoken language.
Source:OCN
