New Delhi, Dec 22: India and New Zealand have sealed a landmark Free Trade Agreement following negotiations completed in just nine months, a development both governments say will open a new chapter in bilateral relations.
Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon announced the conclusion of the pact during a phone call on Monday, officials said.
The talks, formally launched during Luxon’s India visit in March 2025, were wrapped up at an unusually fast pace, underscoring what the two sides described as a shared resolve to deepen economic and strategic ties.
An official statement said the agreement would improve market access, encourage investment and strengthen cooperation across key sectors.
“It will open fresh opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth in both countries,” the statement said.
The leaders expressed confidence that bilateral trade could double within five years. New Zealand, they said, expects investment flows of around USD 20 billion into India over the next 15 years, reflecting the long-term potential of the partnership.
Beyond trade, Modi and Luxon reviewed progress in defence, education, sports and people-to-people exchanges, and agreed to stay closely engaged as the FTA moves toward implementation.
