India, New Zealand conclude Free Trade Agreement talks

India and New Zealand on Monday concluded a Free Trade Agreement (FTA), marking a significant step in strengthening bilateral economic and strategic ties.

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Prime Minister Narendra Modi held a telephone conversation with his New Zealand counterpart, Prime Minister Christopher Luxon, during which the two leaders jointly announced the conclusion of what they described as a historic, ambitious and mutually beneficial pact.

Negotiations for the India-New Zealand FTA were initiated during Prime Minister Luxon's visit to India in March 2025, and the leaders said the agreement's completion in a record nine months reflected strong political will and a shared ambition to deepen engagement between the two nations.

According to them, the FTA will enhance bilateral economic cooperation by improving market access, boosting investment flows and strengthening strategic cooperation, while creating new opportunities for innovators, entrepreneurs, farmers, micro, small and medium enterprises, students and youth in both countries across multiple sectors.

Building on the momentum of the agreement, the two sides expressed confidence in doubling bilateral trade over the next five years and projected investments of about $20 billion from New Zealand into India over the next 15 years.