India, New Zealand move closer with landmark bilateral trade agreement

Commerce Minister Piyush Goyal said the India-New Zealand free trade agreement will boost trade, investments, and jobs. Both countries aim to collaborate in sectors like defence, education, tourism, and aerospace, reflecting closer ties and shared focus on inclusive, sustainable development

New Delhi: Commerce and Industry Minister Piyush Goyal said on Wednesday that a bilateral free trade agreement between India and New Zealand will not only strengthen trade and investment ties but will also give a big message to the world that the two countries have come closer together.

Addressing the media along with the New Zealand Prime Minister, Christopher Luxon, in Auckland, Goyal elaborated on how New Zealand stands to benefit from the large market that India offers and how India stands to gain from the new innovations in New Zealand.

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He also highlighted areas of greater cooperation, including the maritime sector, aerospace, defence, education, sports, and tourism, to expand the scope of the partnership between the two countries.

“I am grateful for the direction that Prime Minister Narendra Modi and New Zealand’s Prime Minister Christopher Luxon are providing us to negotiate a mutually beneficial trade deal for the prosperity of our people and businesses,” Goyal said in a post on X.

The Minister said that he was visiting New Zealand with the largest delegation ever from India and spoke about the huge convergence in thinking and commitment on both sides.

“We are going to work together for a better future for the people of New Zealand, for the people of India, providing new opportunities of business, creating new job opportunities, adding to the economic development of both nations as inclusive and sustainable development is at the core of our philosophy,” he said.

He underlined that from the fragile five to the top five, it’s been a relentless pursuit by India to promote ease of doing business, to attract investments through laying down the red carpet, eliminating red tape, making it easier to do business in India through fewer compliances and easier tax burdens.

“We’ve continuously been reducing taxes, both direct and indirect, through less paperwork, no more threat of criminalisation of laws which threaten you with legal action for small misdemeanours,” Goyal added.

Goyal, along with New Zealand PM Luxon and Trade Minister Todd McClay, also visited the Mahatma Gandhi Centre in Auckland to pay tributes to Mahatma Gandhi.