New Delhi, Dec 22 (UNI) Prime Minister Narendra Modi on Monday said the Free Trade Agreement (FTA) between India and New Zealand will enable the bilateral partnership to “scale newer heights,” as the two countries announced the successful conclusion of negotiations.
Prime Minister Modi held a telephone conversation with New Zealand Prime Minister Christopher Luxon, during which the two leaders jointly announced the conclusion of the historic, ambitious, and mutually beneficial India–New Zealand Free Trade Agreement (FTA). The talks were completed in a record nine months, following Luxon’s visit to India in March.
“An important moment for India-New Zealand relations, with a strong push to bilateral trade and investment,” PM Modi wrote on X.
“My friend PM Christopher Luxon and I had a very good conversation a short while ago following the conclusion of the landmark India-New Zealand Free Trade Agreement.Concluded in just nine months, this historic milestone reflects a strong political will and shared ambition to deepen economic ties between our two countries,” Modi said.
Prime Minister Modi said the agreement sets the stage for “doubling bilateral trade in the coming 5 years.”
“India welcomes investment worth over USD 20 billion from New Zealand across diverse sectors. Our talented youth, vibrant startup ecosystem and reform-driven economy offer a strong foundation for innovation, growth and long-term partnership.”
The Prime Minister added that both countries “continue to strengthen cooperation in other areas like sports, education and cultural linkages.”
Highlighting the benefits of the agreement, PM Modi said, “This FTA ensures:Enhanced market access,Deeper investment flows;Numerous opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth.”
In a statement, the Ministry of External Affairs said the leaders agreed that concluding the FTA in just nine months reflects the shared ambition and strong political will to deepen bilateral ties. The agreement is expected to significantly enhance economic engagement, improve market access, promote investment flows, strengthen strategic cooperation, and create new opportunities across sectors.
“With the strong foundation provided by the FTA, both leaders expressed confidence in doubling bilateral trade over the next five years, as well as attracting USD 20 billion in investment from New Zealand into India over the next 15 years,” the MEA said.
The leaders also welcomed progress in other areas of cooperation, including sports, education, and people-to-people ties, and reaffirmed their commitment to further strengthening the India–New Zealand partnership. They agreed to remain in touch to ensure continued collaboration.
New Zealand PM Christopher Luxon said he had spoken with Prime Minister Modi following the conclusion of the NZ–India Free Trade Agreement.
“The FTA reduces or removes tariffs on 95 pc of our exports to India. It’s forecast that New Zealand exports to India could increase by $1.1–$1.3 billion per year over the coming two decades,” Luxon said.
“Boosting trade means more Kiwi jobs, higher wages, and more opportunities for hardworking New Zealanders. The agreement builds on the strong friendship between our two countries. India is one of the fastest-growing economies in the world, and this gives Kiwi businesses access to 1.4 billion Indian consumers,” he added.
“Our government is relentlessly focused on fixing the basics and building the future, with new trade deals like this helping to grow our economy so all Kiwis can get ahead.”
India–New Zealand FTA to scale newer heights: PM Modi
