The India-New Zealand free trade agreement (FTA) is set to come into force later this year after both countries signed the pact, marking a significant milestone in their bilateral trade relations.
Prime Minister Christopher Luxon described the agreement as a 'once in a generation' deal, offering Kiwi exporters unprecedented access to India's 1.4 billion-strong market.
The FTA, which includes a proposed $20 billion investment commitment by New Zealand in India over 15 years, will pave the way for enhanced business and trade between the two nations.
Under the agreement, India has secured zero-duty access for all goods in New Zealand, along with concessions on professional mobility, while protecting its dairy sector.
New Zealand will receive immediate tariff elimination on 30% of tariff lines, including sheep meat, wool, leather, wooden logs, and metal scraps.
The agreement is expected to boost India's leather, handloom, handicraft, and ODOP industries, with Agra set to benefit from the deal.
