India and New Zealand signed an agreement on Sunday for a flight service between the two countries. President Pranab Mukherjee and New Zealand Prime Minister John Key were present to sign the bilateral air services agreement. It is supposed to promote tourism and trade.
Agreement to boost trade between the countries
New Zealand Transport Minister Simon Bridges said the air services agreement between New Zealand and India must accelerate tourism and trade. India's Minister of State for Agriculture and Farmers' Welfare Sanjeev Balyan also signed on the agreement.
India being an emerging 'superpower'
The minister said that India is an emerging "superpower" and its population is 1.25 billion, which offers tremendous opportunities for New Zealand. Our annual trade with India is over one billion dollars. New Zealand in the year ended March 31, 52000 natives of New Zealand had tripped India and nearly 60000 Indians visited New Zealand. In addition, 160,000 people of Indian origin living here.
Dissenting voices in parliament required
President Pranab Mukherjee said here that parliamentary system cannot work if there will be no tone of disagreement. He underlined that in the House 'heated arguments and discussions’ contribute in the decision making on important matters for the economy.
Addressing the business leaders of India New Zealand Business Council, Mukherjee has invited them to contribute towards the various programs initiated by the government. He said, “Sanjeev Balani is with me. Members of Parliament are also with me who show the true character of Indian Parliament. They represent different religion and different political parties that reveal our multi party democracy in the real sense.
Continued growth in the economy
Highlighting the various factors possible for maintaining present growth, he said, there has been a substantial growth in GDP, Employment, Trade balance and reduction in the rate of inflation in terms of the country since the days of the 1990s.
He further added, “"The current rate of growth is 7.2 percent, and the focus is to grow Indian economy with a rate of eight to ten percent. This is because certain initiatives have been taken regard to this. "