India-New Zealand trade deal to boost farmers, MSMEs, youth: Modi

Narendra Modi hailed the India-New Zealand FTA as transformative for inclusive growth, benefiting farmers, MSMEs and youth. Christopher Luxon called it a historic milestone, boosting trade, investment and bilateral ties

New Delhi: Calling it a transformative step for inclusive growth, Prime Minister Narendra Modi on Monday said the newly signed India-New Zealand Free Trade Agreement (FTA) will unlock wide-ranging opportunities across key segments of society, from farmers and small businesses to startups and students.

In a post on social media platform X, Modi described the pact as a landmark moment in bilateral ties, emphasising that it reflects the deep trust, shared values and growing ambition between the two nations. He underlined that the agreement is not just about trade expansion but about empowering diverse sections of society and accelerating India’s development trajectory. Today marks a landmark moment in the India-New Zealand partnership. I am delighted that the India-New Zealand FTA signed today will add unprecedented momentum to our developmental partnership, PM said.

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It reflects the deep trust, shared values and ambition that bind our two nations,  the Prime Minister stated. He also highlighted New Zealand’s $20 billion investment commitment, noting that it would strengthen cooperation in agriculture, manufacturing, innovation and technology, paving the way for a more dynamic economic partnership. This agreement will greatly benefit our farmers, youth, women, MSMEs, artisans, startups, students and innovators, Prime Minister Modi said.

It will open new avenues for growth, create opportunities and deepen our synergy across sectors, he stated. Echoing similar optimism, New Zealand Prime Minister Christopher Luxon described the deal as a historic milestone that signals a new phase in bilateral relations. Luxon recalled that negotiations began just 13 months ago following his visit to India, and credited ministers and officials from both countries for swiftly concluding a comprehensive agreement.

India is one of the world’s largest and fastest-growing economies, but our trade relationship has only begun to scratch the surface of its potential. Prime Minister Modi and I could see that an FTA would be a massive opportunity for the two countries, he stated.