India-New Zealand FTA: A Step Closer to Strengthening Economic Ties

The third round of negotiations for the India-New Zealand Free Trade Agreement concluded successfully on Friday in Queenstown, marking a significant step towards strengthening economic ties between the two nations. The talks underscored a shared commitment to conclude a balanced and mutually beneficial agreement, with both sides eager to bolster their economic relationship.

Prime Ministers Narendra Modi and Christopher Luxon have been pivotal in guiding these negotiations, reflecting a collective resolve to enhance bilateral trade and economic cooperation. Officially launched on March 16, 2025, during a meeting between Commerce and Industry Minister Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay, the FTA has been a central focus for both countries.

Between September 15 and 19, constructive dialogues took place across all facets of the agreement. While several chapters were finalized, significant strides were made in key areas. With India's merchandise trade with New Zealand valued at USD 1.3 billion for FY 2024-25, marking a 49% growth from the previous year, the anticipated agreement aims to elevate trade, promote investments, and ensure a robust business framework. Talks will continue with inter-sessional engagements, with the next in-person discussions set for October 13-14, 2025, in New Delhi.

(With inputs from agencies.)