New Zealand's $20 Billion Investment Boosts India's Growth Horizon

New Zealand plans to invest USD 20 billion in India over the next 15 years under a new free trade agreement. This commitment aligns with a similar European pact and aims to support India's manufacturing, infrastructure, and innovation sectors as part of the Make in India vision.

In a significant move to boost economic ties, New Zealand has committed to investing USD 20 billion in India over the next 15 years, according to an announcement on Monday. This investment is part of a new free trade agreement between the two nations.

The commitment echoes a similar trade pact India recently signed with the European Free Trade Association (EFTA) this October. Under the EFTA agreement, a total of USD 100 billion is pledged for the next 15 years. Officials stated that the negotiations for the New Zealand pact have concluded and the agreement is set to be signed within three months once New Zealand provides approval.

The Commerce and Industry Minister Piyush Goyal highlighted the substantial nature of the investment, emphasizing that this will focus solely on foreign direct investment (FDI). He noted the FDI will strengthen sectors like manufacturing and infrastructure, supporting the 'Make in India' vision and providing sustainable long-term capital.

(With inputs from agencies.)