Look, let’s get into it. As you know, since coming to office, our Government has been laser focused on going for growth. All of our thinking, our decision-making and our actions are aimed at stimulating growth in the New Zealand economy because that is ultimately how we can create more jobs with higher wages, deliver better infrastructure and can continue to invest more in health and education. It’s pretty simple, really: Kiwis want a better standard of living and a stronger economy is how we deliver that for them. And when it comes to the Government’s growth agenda, the next fortnight is actually a really important one.
Later this week, Minister Bishop and myself and several other Ministers will be in Auckland for the Government’s Infrastructure Investment Summit. We will be hosting around 100 top leaders from global investment firms and also from infrastructure companies to showcase the incredible investment opportunities that New Zealand has to offer. The event has been oversubscribed and I’m very pleased to say we’ll be welcoming companies with a collective $6 trillion under investment to the summit this week. In a competitive world where for major international investors, New Zealand is just one of 195 countries all competing for their money and their ideas to invest in, this summit is an important signal that New Zealand is open for business and it is an attractive place for investment. So Ministers will be presenting a series of investment opportunities and pipelines in their respective portfolios, and I’ll hand over shortly to Minister Bishop to speak about one of these major projects as an example.
But before I do so, I just want to announce that I am travelling to India this weekend, accompanied by a significant business and community delegation. Our Government has been investing time and energy in strengthening our relationship with India and you’ve seen that through a meaningful increase in high-level engagements between our two countries. Foreign Minister Winston Peters obviously visited India last year, while Todd McClay has had multiple and many engagements with his trade counterpart. Last year it was an honour to host President Murmu here in New Zealand and I thoroughly enjoyed meeting up with Prime Minister Modi at ASEAN last year, where he then extended an invitation for me to come for a formal state visit.
With those strong foundations in place, this mission is about stepping it up a gear, and that’s because India really matters to New Zealand. With 1.45 billion people it is the most populous nation on Earth, and its economy is on track to being the third largest in the coming years. But despite India’s growth and scale it remains just our 12th largest two-way trading partner, accounting for 1.5 percent of our exports, and we need to step it up because with 445 million people in India’s middle classes, I think the economic growth opportunities obviously speak for themselves.
But there is so much more to our relationship also than just our economic ties. In an increasingly multipolar world, India is now a major geopolitical power and a significant global and regional security actor. Prime Minister Modi and I will be discussing what more we can do together to maintain peace and prosperity in our region. And it is also a great honour to have been invited to speak as the chief guest at the Raisina Dialogue, which is of course India’s premier defence and security conference.
As we all know, Kiwi Indians are hugely successful members of our society, comprising 6 percent of our total population, and achieving and contributing much to the success of New Zealand. So I see this mission as an important opportunity to further strengthen the people-to-people links between our countries, and I’m thrilled to have such a large community delegation of prominent Kiwi Indians joining us. The bottom line is quite simply that India matters to New Zealand’s future, security, prosperity and society, and that is why we want a much broader and a much deeper relationship, so the visit represents a huge opportunity for us to do that.
And with that I’ll hand over to Minister Bishop, who will provide again some more details on this particular project that will be on the table at this week’s Investment Summit.