India will gain zero-duty access of 100 percent goods exports to New Zealand, after the successful conclusion of Landmark Free Trade Agreement Negotiations (FTA) between the two countries.

 

The FTA enhances market access and tariff preferences for Indian exports to New Zealand, while serving as a gateway to the wider Oceania and Pacific Island markets. The Free Trade Agreement will significantly strengthen the investment partnership between the two countries. As part of the Agreement, New Zealand has committed to facilitating investments of 20 billion US dollars into India over the next fifteen years. 

 

Union Commerce and Industry Minister Piyush Goel said that the FTA will build various opportunities for the farmers, entrepreneurs, students, Women and innovators by building trade. He added that the agreement in a big way will help trade, tourism, trade, research and development, education, innovation, and the services sector, especially benefiting the farmers and dairy persons in upgrading quality, productivity and generating higher incomes.

 

The Minister highlighted that this mutually beneficial Agreement will further strengthen the India-New Zealand economic partnership and advance India’s journey towards the journey of becoming a developed nation. 

 

The 3rd FTA concluded this year under the visionary leadership of  Prime Minister Narendra Modi, represents a new generation trade partnership. It stands as a significant step in India’s journey towards becoming a globally competitive, inclusive and resilient economy under the vision of Viksit Bharat 2047.