The Indo-Pacific region is vast, stretching from the ASEAN countries across the Pacific Ocean to Australia and New Zealand. After completing his visit to Indonesia last week (which I noted in my column last week) Modi went to Australia and New Zealand. He was the first Indian Prime Minister to visit the latter country in forty years. That in itself was significant but more so was the decision to upgrade relations to a ‘strategic partnership’ and also agree on an ‘India-New Zealand Strategic Partnership: Roadmap to 2030’ as a framework to guide joint action over the next four years”.

A significant outcome of the visit was “the conclusion and signature of a balanced, comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA)”. There was a time when there was apprehension in India that New Zealand with its strengths in the dairy sector would damage the Indian dairy industry. It, however, seems that those fears are no longer there. India has reached a stage where its businesses and industries must welcome both foreign competition and also opportunities to learn from its trading and business partners. Even if walls against globalisation are being erected in many parts of the world, India must prudently increase its interaction with the leading countries in many business sectors to improve technologically and reduce costs. It has to adopt a forward looking approach and its........

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