Our correspondent reports that India-New Zealand economic engagement has shown steady momentum. The Bilateral merchandise trade has reached 1.3 billion dollars in 2024-25, while total trade in goods and services stood at approximately 2.4 billion dollars last year. 

 

The Free Trade Agreement stands out as one of India’s fastest-concluded FTAs aligned with the national vision of Viksit Bharat 2047. The negotiations were formally initiated on 16th March this year. The FTA establishes a high-quality economic partnership that promotes employment, drives trade and investment-led growth.

 

It will also foster innovation for agricultural productivity and enhance MSME participation to strengthen long-term economic resilience. The Free Trade Agreement will significantly strengthen the investment partnership between the two countries. New Zealand has committed to facilitating investments of 20 billion US dollars into India over the next fifteen years. The FTA will open skilled employment pathways through a new Temporary Employment Entry Visa for Indian professionals in skilled occupations, with a quota of five thousand visas and a stay of up to three years.

 

The FTA promotes India’s AYUSH systems internationally, encourages medical value travel, and positions India as a global wellness hub. The India-New Zealand agreement 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.