India and New Zealand have successfully completed talks on a landmark Free Trade
Agreement (FTA). Under this deal, India will get zero-duty access for 100% of its
goods exports to New Zealand.
The FTA will improve market access and reduce tariffs for Indian products entering
New Zealand. It will also help Indian businesses reach larger markets in Oceania and
the Pacific Islands. The agreement is expected to strengthen investment ties between
the two countries. As part of the deal, New Zealand has promised to support
Union Commerce and Industry Minister Piyush Goyal said the FTA will create many
new opportunities for farmers, entrepreneurs, students, women, and innovators.
He said the agreement will boost trade, tourism, research, education, innovation,
and services. It will also help farmers and dairy workers improve product quality,
increase productivity, and earn higher incomes.
The Minister said the agreement will further strengthen the economic partnership
between India and New Zealand and support India’s goal of becoming a developed country.
This is the third Free Trade Agreement India has completed this year under the
leadership of Prime Minister Narendra Modi. It marks a new kind of trade partnership
and is an important step toward building a strong, competitive, and inclusive economy
under the vision of Viksit Bharat 2047.