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India and New Zealand finalize a free trade agreement, eyeing growth as global uncertainties persist
The agreement cuts tariffs on 95% of New Zealand exports to India and aims to double bilateral trade and attract $20 billion investment over 15 years, officials said.
- On Monday, Prime Ministers Narendra Modi and Christopher Luxon announced India and New Zealand successfully concluded negotiations for a comprehensive free trade agreement following their phone call.
- Negotiations began March 16, 2025, when Piyush Goyal and Todd McClay launched talks aiming to lower tariffs, ease regulatory barriers, and expand cooperation over about nine months.
- Officials say more than half of New Zealand products are duty-free from day one, with the agreement eliminating tariffs on 95% of exports and forecasting a $1.1 billion to $1.3 billion export rise.
- A formal signing is expected in the first quarter of next year after legal scrubbing, but parliamentary approval faces uncertainty as New Zealand First says it will vote against enabling legislation.
- Strategically, the deal aims to diversify markets and boost investment, including a $2.4 billion New Zealand commitment and a pathway for up to 5,000 Indian professionals.
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India and New Zealand agreed on a free trade agreement.
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India–New Zealand FTA to bring $20 billion FDI commitment over 15 years
New Zealand will invest twenty billion US dollars in India over the next fifteen years. This commitment is part of a new free trade agreement between the two nations. The pact aims to boost manufacturing, infrastructure, and services in India. This significant foreign direct investment is expected to create jobs and support India's growth vision.
·India
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New Zealand and India have concluded a free trade agreement aimed at reducing tariffs, creating jobs and strengthening trade between the two countries.
·Berlin, Germany
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Coverage Details
Total News Sources57
Leaning Left8Leaning Right9Center15Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 25%
C 47%
R 28%
Factuality
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