India-New Zealand FTA: A Boost for Bilateral Trade

The free trade agreement between India and New Zealand aims to diversify exports and attract investments in agriculture, increasing India's market access and employment. Set to be signed next year, it promises to double bilateral trade in goods and services, enhancing India's competitiveness and boosting economic ties.

The recently concluded free trade agreement (FTA) negotiations between India and New Zealand are expected to significantly enhance the economic ties between the two nations. Scheduled to be signed and implemented next year, the agreement aims to diversify India's exports and attract substantial investments, particularly in the agricultural sector.

The FTA will provide India with tariff-free access to New Zealand's markets, potentially bringing in USD 20 billion in investments over the next 15 years. This move is projected to double bilateral trade in goods and services to USD 5 billion within the next five years.

Experts highlight the potential boost in competitiveness for Indian products in New Zealand markets, especially in high-value agriculture products and services. However, some caution that the agreement alone may not unlock the full potential of the bilateral economic relationship without further efforts to expand trade volumes and diversify exports.

(With inputs from agencies.)