NZ-India FTA Opens Door to 1.4 Billion Consumers

New Zealand's free trade agreement (FTA) with India has been hailed as a landmark deal by Prime Minister Christopher Luxon. The agreement, which passed its final vote in Parliament, will open up access to 1.4 billion Indian consumers and help boost jobs and incomes in New Zealand.

Luxon said the FTA would mean more New Zealand products being sold in India, growing the country's economy and creating new opportunities for Kiwis. 'This landmark deal means more jobs, higher incomes for Kiwis,' he stated.

The agreement also fulfills a commitment made by Luxon's National Party to secure an FTA with India during their first term in government. Under the pact, 57% of New Zealand exports to India will become duty-free when it takes effect, with tariffs removed or significantly reduced on 95% of exports.

The kiwifruit industry alone is expected to save about NZ$125 million in tariffs over five years. The agreement aims to support a goal set by Luxon and Indian Prime Minister Narendra Modi to double two-way trade between the two countries by 2030.