New Delhi: Narendra Modi on Monday termed the India-New Zealand Free Trade Agreement (FTA) a “landmark moment” in bilateral ties, saying it will significantly boost growth and cooperation across sectors.
Reacting to a post by Christopher Luxon, PM Modi said the agreement reflects deep trust, shared values, and growing ambition between the two nations. He added that the deal will open new avenues for farmers, youth, women, MSMEs, startups, artisans, and innovators.
The Prime Minister highlighted that the FTA will create fresh economic opportunities and deepen sectoral synergy, while New Zealand’s proposed $20 billion investment is expected to strengthen collaboration in agriculture, manufacturing, innovation, and technology.
Calling it a “historic milestone,” PM Luxon said the agreement goes beyond economic gains and carries strategic importance. He noted that India, being one of the world’s fastest-growing economies, offers vast untapped trade potential for New Zealand.
The deal provides Indian exporters tariff-free access to New Zealand markets from day one, while also allowing Indian consumers better access to high-quality New Zealand products. It is also expected to enhance cooperation in agricultural productivity, leveraging New Zealand’s advanced agri-tech expertise.
According to Luxon, the FTA will help diversify New Zealand’s export markets and support its long-term goal of doubling export value over the next decade.
The agreement was formally signed at Bharat Mandapam by Union Commerce Minister Piyush Goyal and New Zealand Trade Minister Todd McClay.
Officials said the pact will also strengthen people-to-people ties, with the Indian diaspora in New Zealand playing a key role as a “living bridge” between the two countries. The agreement is expected to further collaboration in trade, investment, education, innovation, and emerging technologies.
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