India has said that the Free Trade Agreement with New Zealand underscores the commitment of both nations to deepening the economic ties and harnessing mutual opportunities in the rapidly evolving financial services landscape.

 

The Union Finance Ministry said that the agreement will establish a robust institutional and regulatory framework to accelerate bilateral cooperation, enhance market access, and promote deeper integration between the two nations. 

 

The Ministry said that both countries are committed to collaborating on developing domestic payments interoperability and merchant payments through integrated Fast Payment Systems. It said, India and New Zealand have committed to supporting the provision of back-office and financial services support functions. The Ministry said, this will enable cost-efficient delivery of financial services through centralised back-office operations in India.