India and New Zealand Relaunch FTA Talks After Decade-Long Pause

India and New Zealand have resumed talks for a proposed free trade agreement to enhance bilateral economic relations, following a ten-year hiatus. Key challenges include tariff disparities and demands for greater market access. The negotiations aim to improve trade in goods, services, and investment between both nations.

In a significant development, India and New Zealand have announced the resumption of negotiations for a comprehensive free trade agreement (FTA), a decade after talks were stalled. The renewed discussions aim to strengthen bilateral economic ties by improving trade in goods, services, and investment.

The announcement follows a meeting between India's Commerce and Industry Minister Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay, with the goal of achieving a balanced agreement that enhances supply chain integration and expands market access.

Despite the potential benefits, challenges remain, particularly regarding the disparity in tariff structures and market access demands. As negotiations move forward, finding common ground will be crucial to the successful conclusion of this proposed agreement. Current trade stands at over USD 1 billion, highlighting the importance of these talks in fostering growth.

(With inputs from agencies.)