In a boost to bilateral trade, India and New Zealand have formally signed a Free Trade Agreement, a move Prime Minister Narendra Modi described as transformative for both nations’ futures.
PM Modi shared his enthusiasm on social media platform X by reposting New Zealand PM Christopher Luxon’s announcement. ‘A historic milestone in India-NZ relations. The newly signed FTA will supercharge our development partnership, embodying the trust, values, and aspirations that unite us,’ Modi noted.
He outlined the agreement’s inclusive benefits: from supporting farmers and women entrepreneurs to aiding MSMEs, startups, and innovators. ‘It opens fresh pathways for growth, generates opportunities, and intensifies synergy in key areas,’ the PM added.
The $20 billion investment pledge from New Zealand in critical sectors like farming, manufacturing, tech, and R&D is expected to drive mutual advancement. This strategic infusion will create jobs, spur innovation, and build resilient economies.
Reflecting on the journey, Luxon wrote on X: ‘A little over a year ago, I met PM Modi in India and we committed to FTA negotiations. Despite decades of skepticism, we’ve sealed the deal today.’
He painted a vivid picture of the gains: access to India’s vast market of 1.4 billion consumers, fueling employment in rural areas, injecting funds into communities, and offering upward mobility for families.
This FTA aligns with India’s vision of becoming a global economic powerhouse. It enhances trade diversification, reduces tariffs, and promotes sustainable development. As celebrations unfold, stakeholders anticipate a surge in cross-border investments and collaborations, marking a pivotal shift in Asia-Pacific commerce.
