India, New Zealand conclude historic free trade agreement in record time

New Delhi, Dec 22: Prime Minister Narendra Modi on Monday held a telephone conversation with his New Zealand counterpart, Prime Minister Christopher Luxon, during which the two leaders announced the successful conclusion of the India–New Zealand Free Trade Agreement (FTA). Described as historic and ambitious, the agreement was finalised in a record nine months after negotiations were launched during Prime Minister Luxon’s visit to India in March 2025. Both leaders said the swift conclusion of the talks reflected the strong political will and shared ambition to deepen bilateral ties.

PM Modi in a message on X said, “An important moment for India-New Zealand relations, with a strong push to bilateral trade and investment! My friend PM Christopher Luxon and I had a very good conversation a short while ago following the conclusion of the landmark India-New Zealand Free Trade Agreement. Concluded in just nine months, this historic milestone reflects a strong political will and shared ambition to deepen economic ties between our two countries. This FTA ensures: Enhanced market access Deeper investment flows, Numerous opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth.”

The FTA is expected to significantly boost economic engagement between the two countries by improving market access, encouraging investment flows and strengthening strategic cooperation. It is also set to create new opportunities for businesses, farmers, MSMEs, innovators, students and young professionals across multiple sectors. Building on the foundation of the agreement, the two leaders expressed confidence that bilateral trade could be doubled over the next five years. They also noted New Zealand’s plans to invest about USD 20 billion in India over the next 15 years. Prime Ministers Modi and Luxon welcomed progress in other areas of cooperation, including sports, education and people-to-people exchanges, and reaffirmed their commitment to further strengthening the India–New Zealand partnership. The leaders agreed to remain in close contact.