New Delhi: Prime Minister Narendra Modi on Monday spoke with his New Zealand counterpart, Christopher Luxon, during which the two leaders announced the successful conclusion of the India–New Zealand Free Trade Agreement (FTA), describing it as a landmark and forward-looking pact.
The agreement follows the launch of negotiations during Luxon’s visit to India in March 2025. Both leaders noted that finalising the FTA within a span of nine months underscored the strong political commitment on both sides to elevate bilateral relations, according to an official statement. The pact is expected to deepen economic engagement, improve market access, boost two-way investment, and strengthen strategic cooperation, while creating fresh opportunities for businesses, innovators, farmers, MSMEs, students, and young professionals in both countries.
Building on the momentum generated by the FTA, the two prime ministers expressed confidence that bilateral trade could be doubled over the next five years. They also welcomed the prospect of New Zealand investments worth around USD 20 billion flowing into India over the next 15 years.
The leaders reviewed progress in other areas of cooperation, including sports, education, and people-to-people exchanges, and reaffirmed their shared commitment to further strengthening the India–New Zealand partnership.
In a post on X, Luxon said: “The agreement builds on the strong friendship between our two countries. India is one of the fastest-growing economies in the world, and this gives Kiwi businesses access to 1.4 billion Indian consumers.”
