New Zealand Prime Minister Christopher Luxon on Wednesday described the India-New Zealand free trade agreement (FTA) as a “once-in-a-generation opportunity”, saying the deal would boost jobs, raise wages and expand opportunities for New Zealand businesses.
In a video message shared on X, Luxon highlighted India’s growing economic weight and said the agreement would allow New Zealand to align closely with one of the world’s fastest-growing major economies.
“With a population of around 1.5 billion and rising income levels, India presents a vast and increasingly affluent market seeking high-quality goods and services,” he said.
Luxon said the agreement would significantly lower trade barriers, adding that 57 per cent of New Zealand’s exports to India would become tariff-free from day one, with further reductions to be phased in over time.
He said the pact would improve the competitiveness of New Zealand products in the Indian market and strengthen the global position of Kiwi exporters.
Calling the deal transformative, Luxon said the agreement opens up fresh avenues for trade, investment and strategic cooperation between the two countries amid shifting global economic alignments.
The free trade agreement was finalised on April 27 during talks in New Delhi and is expected to come into force by the end of the year.
Commerce and Industry Minister Piyush Goyal termed the pact a major milestone in New Delhi’s trade outreach, saying it was the seventh free trade agreement concluded during his tenure in the past three-and-a-half years.
The agreement was formally signed alongside New Zealand Trade and Investment Minister Todd McClay.
Officials in both countries see the pact as a significant step in deepening bilateral economic ties, with the agreement expected to expand market access, boost investment flows and strengthen strategic engagement.
-IANS
