Wellington, April 27 — New Zealand Prime Minister Christopher Luxon on Monday described the newly signed India–New Zealand Free Trade Agreement as a historic milestone with strategic significance that extends beyond pure economics amid global uncertainty.
Luxon recalled that just 13 months ago he travelled to India and met Prime Minister Narendra Modi to formally launch negotiations. He commended India’s Commerce and Industry Minister Piyush Goyal, New Zealand Trade Minister Todd McClay, and their negotiating teams for the swift progress that delivered the deal.
The agreement was signed earlier in the day at Bharat Mandapam in New Delhi by Goyal and McClay, in the presence of senior officials, business leaders and industry representatives from both countries.
As part of the pact, New Zealand has pledged roughly USD 20 billion in investments in India over the next 15 years, signalling long-term confidence in India’s growth trajectory. Luxon said the FTA will substantially deepen economic ties: it opens New Zealand to one of the world’s fastest-growing markets and helps New Zealand exporters compete more effectively with firms that already enjoy preferential access to India, supporting the country’s ambition to double export value over the coming decade.
For India, the deal delivers tariff-free entry to the New Zealand market from day one and better access to premium New Zealand agricultural and food products. The agreement also paves the way for closer cooperation in agri-tech and food production, areas where New Zealand has strong global expertise.
Luxon stressed the wider implications, saying the FTA signals a shared commitment to stable, predictable, rules-based trade at a time of global economic volatility. He noted bilateral ties are broadening across trade, investment, defence, innovation and sport, and praised New Zealand’s Indian community as a “living bridge” linking both nations. He called the pact a starting point for a deeper, more dynamic phase of India–New Zealand engagement.
