Thirteen months after his visit to India, New Zealand Prime Minister Christopher Luxon has described the recently signed India–New Zealand Free Trade Agreement as a historic milestone that transcends economic cooperation.
He emphasised its strategic significance in the context of global uncertainties, noting that the agreement represents more than just trade.
Luxon recalled his meeting with Prime Minister Narendra Modi in March last year, when negotiations were formally launched, and highlighted the rapid progress achieved since then.
He credited Union Commerce and Industry Minister Piyush Goyal and New Zealand Trade Minister Todd McClay, along with their teams, for their tireless efforts in concluding the deal. Luxon stated that both leaders recognised early on that an FTA would be a massive opportunity for their countries, and the outcome now delivers tangible benefits for both sides. He extended congratulations to the ministers and negotiators who made the agreement possible.
The signing ceremony took place at Bharat Mandapam in New Delhi, attended by senior officials, business leaders, and industry stakeholders. As part of the agreement, New Zealand has committed to investing approximately $20 billion in India over the next 15 years, signalling long-term confidence in India’s growth trajectory. Luxon noted that the agreement would significantly boost economic engagement between the two nations.
For New Zealand, the deal opens access to one of the world’s most dynamic markets, supporting its ambition to double export value over the next decade and ensuring a level playing field for its exporters.
For India, the agreement provides tariff-free access to the New Zealand market from the outset, along with improved access to high-quality agricultural and food products. It also creates pathways for collaboration in agri-tech and food production, areas where New Zealand has established global expertise.
Luxon explained that the FTA would help diversify New Zealand’s export markets, foster innovation, and strengthen connections. He stressed that Indian exporters would benefit from immediate tariff-free access, while Indian consumers would gain from New Zealand’s high-quality exports.
He added that the agreement would enable India to partner with New Zealand on agricultural productivity and leverage its world-leading expertise in food production.
Beyond economics, Luxon underlined that the FTA reflects a shared commitment to stable, predictable, and rules-based trade at a time of global uncertainty. He highlighted that the bilateral relationship is expanding across multiple sectors, including trade, investment, defence, innovation, and sports.
He also acknowledged the vital role of the Indian diaspora in New Zealand, echoing Prime Minister Modi’s description of the community as a “living bridge” between the two nations. Luxon praised the diaspora’s contributions across business, science, education, health, the arts, sport, and community life.
Calling the agreement a beginning rather than a conclusion, Luxon expressed optimism about the future of India–New Zealand relations. He stated that both countries are entering a new phase of deeper and more dynamic engagement, with the FTA serving as a foundation for broader cooperation in the years ahead.
ANI
