India, New Zealand Ink Free Trade Deal to Strengthen Economic Ties
The agreement was signed in the Indian capital following the completion of negotiations announced last year.
India’s Commerce Minister Piyush Goyal called it a “landmark agreement,” saying it reflects “deep mutual trust, shared ambition, and a common commitment to prosperity.”
He noted that the deal was finalized within nine months and said it is expected to help facilitate around $20 billion in investment into India over the next 15 years.
Goyal also described the agreement as a “forward-looking” framework that supports India’s long-term development goals, including its vision to become a developed nation by 2047, while strengthening bilateral ties with New Zealand and promoting what he called inclusive global cooperation.
Under the terms of the deal, 8,284 Indian export products will gain full duty-free access to the New Zealand market, including goods such as pharmaceuticals, engineering products, and agricultural items.
In return, 95% of New Zealand’s exports to India will either become tariff-free or benefit from significantly reduced customs duties.
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