Andalib Akhter / New Delhi
India and New Zealand today announced the successful conclusion of Landmark Free Trade Agreement Negotiations, marking a major economic and strategic milestone in India’s engagement with the Indo-Pacific region. The agreement was concluded by holding continuous and intense discussions spread over 5 formal negotiation rounds, several in-person and virtual intercessions.
Briefing media here today, Union Commerce and Industry Minister Piyush Goel said that the FTA will build various opportunities for the farmers, entrepreneurs, students, Women and innovators by building trade. He added that the agreement in a big way will help trade, tourism, research and development, education, innovation, and the services sector, especially benefiting the farmers and dairy persons in upgrading quality, productivity and generating higher incomes.
Piyush Goyal asserted that the FTA reflects the growing strategic importance of India in world geopolitics. The Minister said that the agreement was primarily led by women and thanked them for taking the lead in finalising this agreement. He further mentioned that boosting yields and farmer incomes, the agreement will drive modern agricultural productivity and open doors for Indian businesses in the region through well-integrated directional exports and provide the youth choices to learn, work and grow on a global stage.
Piyush Goyal said that the agreement with New Zealand reflects the vision of both Prime Minister Modi and his counterpart, Christopher Luxon, to elevate the relations to higher strategic levels. He noted that it is India’s third FTA with five eyes nations, Australia, the UK and now New Zealand and the country is soon going to launch trade discussions with Canada. Piyush Goyal said that India is at an advanced stage in discussions with the USA.
He further underlined that the India-New Zealand FTA will ensure Zero duty on 100% of India’s exports, with tariff elimination across all tariff lines, benefiting farmers, MSMEs, workers, artisans, women-led enterprises, and youth, while providing immense opportunities for labour-intensive sectors such as textiles, apparel, leather, and footwear.
Piyush Goyal mentioned that through the Agricultural Productivity Partnership, Centres of Excellence, and access to New Zealand’s advanced agri-technologies, farmers will significantly benefit from higher productivity, improved quality, and higher incomes.
The Minister highlighted that this mutually beneficial Agreement will further strengthen the India-New Zealand economic partnership and advance India’s journey towards the journey of becoming a developed nation.
One of India’s fastest-concluded FTAs
The Free Trade Agreement stands out as one of India’s fastest-concluded FTAs aligned with the national vision of Viksit Bharat 2047. The negotiations were formally initiated on 16th March this year. The FTA establishes a high-quality economic partnership that promotes employment, drives trade and investment-led growth.
It will also foster innovation for agricultural productivity and enhance MSME participation to strengthen long-term economic resilience. The Free Trade Agreement will significantly strengthen the investment partnership between the two countries. New Zealand has committed to facilitating investments of 20 billion US dollars into India over the next fifteen years. The FTA will open skilled employment pathways through a new Temporary Employment Entry Visa for Indian professionals in skilled occupations, with a quota of five thousand visas and a stay of up to three years.
The FTA promotes India’s AYUSH systems internationally, encourages medical value travel, and positions India as a global wellness hub. The India-New Zealand agreement stands as a significant step in India’s journey towards becoming a globally competitive, inclusive and resilient economy under the vision of Viksit Bharat 2047.