Synopsis
India and New Zealand have commenced negotiations for a Free Trade Agreement as Prime Minister Christopher Luxon visits Delhi. This effort aims to enhance bilateral trade and economic ties, reflecting shared values and mutual benefits.Key Takeaways
- India and New Zealand launch FTA negotiations.
- PM Christopher Luxon visits India for discussions.
- Focus on strengthening economic ties and investment.
- Meetings with PM Modi and President Murmu scheduled.
- Luxon to attend the 10th Raisina Dialogue 2025.
New Delhi, March 16 (NationPress) India and New Zealand have officially initiated discussions for a comprehensive and mutually beneficial Free Trade Agreement (FTA) on Sunday.
This announcement coincided with New Zealand Prime Minister Christopher Luxon's arrival in Delhi, marking his first official visit to India.
A statement from the Ministry of Commerce and Industry highlighted that this significant development was established during a meeting between Piyush Goyal, the Minister for Commerce and Industry, and Todd McClay, New Zealand's Minister for Trade and Investment, which set the groundwork for a promising partnership aimed at enhancing economic and trade relations between the two nations.
The ministry emphasized that both countries possess a longstanding partnership based on shared democratic values, robust people-to-people connections, and economic synergies.
India and New Zealand have consistently aimed to strengthen their bilateral relationship through trade and investment.
The negotiations for the India-New Zealand FTA are designed to achieve balanced results that facilitate supply chain integration and improve market access. This initiative signifies a united vision for a more robust economic collaboration, fostering resilience and prosperity.
During his visit, which lasts until March 20, Luxon is accompanied by a high-level delegation, including ministers, senior officials, business leaders, media representatives, and members of the Indian diaspora in New Zealand.
Luxon is scheduled to meet with Prime Minister Narendra Modi on March 17 to discuss various dimensions of India-New Zealand relations.
After their discussions, PM Modi will host a lunch in Luxon’s honor. On the same day, Luxon will also meet with President Droupadi Murmu.
Additionally, Luxon will be the chief guest at the inaugural session of the 10th Raisina Dialogue 2025 on March 17, where he will deliver the keynote address.
From March 19-20, he is expected to visit Mumbai to engage with Indian business leaders and representatives from various sectors before departing for Wellington from Mumbai on March 20.
In the fiscal year 2023-24, New Zealand exported $0.84 billion worth of goods and services to India while importing $0.91 billion, culminating in a total trade value of $1.75 billion.
