Historic India-New Zealand Free Trade Deal Opens Doors for Economic Growth

The India-New Zealand free trade agreement promises significant economic benefits, including zero-duty market access for Indian exports, a dedicated visa quota for professionals, and a USD 20 billion investment commitment from New Zealand over the next 15 years. The pact also opens new cooperation avenues in agriculture, culture, and tourism.

In a landmark move set to boost economic ties, India and New Zealand have announced the closure of negotiations for a comprehensive free trade agreement. The deal is expected to be signed within the next three months, with implementation slated for the following year.

The agreement promises zero-duty market access to 100 percent of India's exports, bolstering competitiveness in sectors such as textiles, apparel, and engineering goods. New Zealand, in turn, has committed to a significant USD 20 billion investment in India over the next 15 years.

The pact includes provisions for temporary employment visas and cooperation in diverse fields including agriculture, culture, and tourism, promising a mutually beneficial partnership between the two nations.

(With inputs from agencies.)