New Zealand and India Gear Up for Landmark Free Trade Agreement

New Zealand Prime Minister Christopher Luxon announced plans to sign a free trade agreement with India within 60 days, aiming to magnify bilateral trade tenfold over a decade. After a decade-long gap, India and New Zealand have renewed negotiations for this agreement to enhance economic relations.

In a significant diplomatic move, New Zealand Prime Minister Christopher Luxon expressed optimism about finalizing a free trade agreement with India within the next 60 days. The agreement is anticipated to exponentially boost bilateral trade, multiplying it tenfold over the next decade.

After a hiatus of roughly ten years, India and New Zealand have recommenced discussions on this pivotal economic partnership. The Indian Commerce Minister, Piyush Goyal, emphasized that the agreement would be a robust and comprehensive economic partnership benefiting both nations.

Trade experts underscore the complexities of duty concessions on agricultural products as a key discussion point. With substantial access to each other's markets already in place, the new agreement aims to deepen economic ties further amidst strong cultural links provided by the Indian diaspora in New Zealand.

(With inputs from agencies.)