India-New Zealand FTA: A New Era in Trade Relations

New Zealand and India are set to double their trade with a new Free Trade Agreement (FTA). This deal, fostering investment and tariff-free exports, aims to enhance economic and cultural ties, offering a beacon of stability amid global trade volatility.

In a landmark move, New Zealand and India are preparing to double their bilateral trade through an ambitious Free Trade Agreement (FTA), according to New Zealand's Trade and Investment Minister Todd McClay.

Exclusively speaking to ANI, McClay emphasized that the FTA is poised to cater to New Zealanders' demand for high-quality goods and services readily available in the Indian market. Integral to this agreement is New Zealand's plan to inject up to USD 20 billion into India over the next 15 years, a process streamlined by the Indian government setting up a special New Zealand 'single desk' to expedite investment approvals.

McClay further highlighted the immediate benefits Indian exporters will receive, with all Indian exports to New Zealand becoming tariff-free on day one. The agreement is expected to elevate India's trade position with New Zealand, as it currently accounts for a mere one percent of New Zealand's trade. In an era marked by global trade uncertainties and rising tariffs, the FTA offers a reliable framework for future cooperation.