In a major boost to bilateral trade, Union Minister Piyush Goyal declared the India-New Zealand FTA a game-changer for entrepreneurs on both sides. Addressing the business forum in the national capital with New Zealand’s Todd McClay, he emphasized strengthened supply chains and enhanced economic partnerships.
Goyal pointed to synergies between India’s expansive consumer base, talent pool, digital infrastructure, and industrial might with New Zealand’s strengths in agricultural technology, renewable energy, and financial tech. The dialogue among top executives revealed vast opportunities in trade, investments, and cutting-edge innovations.
Achieved in an unprecedented nine months, this FTA solidifies diplomatic and commercial bonds. Trade volumes currently hover at $1.3 billion for goods and $634 million for services, with a bold target of $5 billion in five years. The 300,000-strong Indian community in New Zealand acts as a key enabler.
Tariff eliminations cover all Indian exports to New Zealand, while 95% of Kiwi imports to India enjoy cuts or waivers. New Zealand’s pledge of $20 billion investment over 15 years aligns with similar global commitments, promising long-term economic integration and mutual prosperity.
