| | JULY 20268Prime Minister Narendra Modi said the India-New Zealand Free Trade Agreement (FTA) will strengthen economic ties by creating new opportunities for trade, investment, technology, services, market access, and talent mobility. Speaking to CEOs and busi-ness leaders in Auckland, Modi said the shared democratic values and commitment to sustainable development provide a strong foundation for deeper cooperation. His remarks followed talks with New Zealand Prime Minister Chris-topher Luxon, during which both countries elevated bilateral ties to a Strategic Partnership.Modi described the FTA as a milestone that will boost economic collaboration and benefit business-es, innovators, and young profes-sionals. He also highlighted India's strong economic growth, skilled workforce, expanding middle class, digital transformation, and infra-structure development as attractive opportunities for New Zealand investors and businesses. The Centre has reduced import costs for key electronics and battery manufacturing inputs by issuing Prime Minister Narendra Modi met Australian Opposition Leader Angus Taylor during his three-day visit to Australia, with both leaders discussing ways to strengthen the India-Australia Comprehen-sive Strategic Partnership. The meeting reflected strong bipartisan support in Australia for expanding cooperation with India across key sectors. Accord-ing to the Ministry of External Affairs, the leaders held produc-tive discussions on advancing bilateral relations. Finance Minister Nirmala Sitharaman said India is on track to achieve its target of 5,000 Global Capa-bility Centres (GCCs) by 2030, driven by its skilled workforce, robust infrastructure, and stable macroeconomic environment.Speaking at the CII GCC Business Summit 2026, she not-ed that India hosts over 2,100 GCCs, employing more than 2.3 million professionals and generating nearly $100 billion in annual revenue. The pace of expansion has increased from one new GCC each week in 2024 to almost one every day. Sitharaman said GCCs have evolved into strategic innova-tion hubs for global firms and highlighted emerging cities such as Varanasi, Chandigarh, Visakhapatnam, Tiruchirappal-li, and Mysuru as future centres for AI, engineering, product development and high-value digital innovation across the country. INDIA-NEW ZEALAND FTA TO ENHANCE BILATERAL TRADE: PM MODI CENTER REDUCES CUSTOMS DUTY ON ELECTRONICS PRODUCTION INPUTS PM MODI, AUSTRALIAN OPPOSITION LEADER HOLD TALKS ON BILATERAL TIES INDIA CAN ACHIEVE 5,000 GCCS BY 2030: NIRMALA SITHARAMAN NEWSROOM GLOBAL PARTNERSHIPSMEA spokesperson Randhir Jaiswal said the warm engage-ment underscored Australia's bipartisan commitment to deep-ening ties with India. During his visit, Modi also held talks with Prime Minister Anthony Albanese, met Gover-nor-General Sam Mostyn, Victo-ria Governor Margaret Gardner, participated in the Australia-India CEO Forum, addressed the Indian community in Melbourne, and met former Prime Minister Scott Morrison to further boost bilateral cooperation. INTERNATIONAL TRADE three customs notifications granting Basic Customs Duty (BCD) exemp-tions on select components and capital goods. The measures extend duty ex-emptions until March 31, 2029, for parts used in display assemblies and wireless charging modules, while expanding the list of machinery eligible for con-cessional duty for lithium-ion cell production to 85 capital goods.The initiative aims to improve cost competitiveness, promote do-mestic value addition, and strength-en India's electronics manufactur-ing ecosystem. Industry experts said the deci-sion will support local production, encourage investments, reduce manufacturing costs, and acceler-ate growth in the electronics and electric mobility sectors, reinforcing India's ambition to become a global hub for advanced manufacturing, exports.
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