New Delhi, Dec 22: India and New Zealand on Monday announced the conclusion of a Free Trade Agreement, capping negotiations in a record nine months and setting the stage for a major expansion of bilateral economic and strategic engagement.
Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon jointly unveiled the agreement during a telephone conversation, describing the pact as historic and mutually beneficial, officials said.
The negotiations were launched during Luxon’s visit to India in March 2025 and concluded swiftly, reflecting “strong political will and shared ambition” to elevate ties, according to an official statement.
“The agreement is expected to significantly deepen bilateral economic engagement by enhancing market access, promoting investment flows and strengthening strategic cooperation,” the statement said.
The FTA is projected to create new opportunities for farmers, MSMEs, entrepreneurs, innovators, students and youth in both countries across multiple sectors.
Buoyed by what they described as a “strong and credible foundation,” the two leaders said bilateral trade could double over the next five years. New Zealand also envisages investments of about USD 20 billion in India over the next 15 years, officials said.
Modi and Luxon also reviewed cooperation in defence, education, sports and people-to-people ties, agreeing to remain in close contact as the agreement moves toward implementation.
