India and New Zealand Forge Strategic Partnership

India and New Zealand have announced their transition to a strategic partnership until 2030. The agreement, signed by Prime Minister Narendra Modi of India and his counterpart Christopher Luxon in New Zealand, includes a free trade agreement, ten bilateral agreements, and eight new joint projects.

The free trade agreement aims to improve market access for both countries, stimulate mutual investments, develop services, and foster cooperation in technology. It is expected to simplify business processes and enhance the level of business mobility.

The government's goal is to increase the volume of bilateral trade to 7 billion New Zealand dollars by 2030. The parties have also agreed on mutual recognition of the status of authorized economic operators, which will expedite customs procedures and reduce costs for businesses.