India and New Zealand have officially begun discussions for a comprehensive and mutually beneficial Free Trade Agreement (FTA), marking an important milestone in their economic partnership. This would be India’s second trade agreement in the Oceania region, following its FTA with Australia in April 2022. The pact intends to improve trade relations and open up new economic prospects for both nations.
Commerce Minister Piyush Goyal expressed confidence about the development, saying, “We are delighted to announce the start of India-New Zealand Free Trade Agreement negotiations.” This milestone shows our common goal of strengthening commercial connections and boosting economic growth.” He made the statement after meeting with New Zealand’s Trade and Investment Minister, Todd McClay, in New Delhi. The talks will take place immediately before Prime Minister Narendra Modi meets with his New Zealand counterpart, Christopher Luxon.
Luxon, who arrived in India for his first official visit on Sunday, emphasised the country’s economic and strategic importance to New Zealand. “India provides enormous opportunities for New Zealand.” That’s why I’m here with a senior delegation of business and community leaders,” he explained.
Bilateral trade between the two countries has continuously increased, topping $1 billion during the April- January period of the fiscal year 2024-25.
