PM Modi, New Zealand PM Announce Landmark Free Trade Agreement

• PM Narendra Modi holds telephonic talks with New Zealand PM Christopher Luxon
• India and New Zealand jointly announce conclusion of Free Trade Agreement
• Leaders target doubling bilateral trade in five years
• Cooperation to expand across defence, education, sports and people-to-people ties

GG News Bureau
New Delhi, 22nd Dec: Prime Minister Narendra Modi on Monday held a telephone conversation with the Prime Minister of New Zealand, Christopher Luxon, during which the two leaders jointly announced the successful conclusion of a historic and mutually beneficial India–New Zealand Free Trade Agreement (FTA).

The leaders noted that negotiations for the FTA were initiated during Prime Minister Luxon’s visit to India in March 2025, and its conclusion within a record period of nine months reflects strong political will and shared ambition to deepen bilateral ties.

According to the official statement, the FTA is expected to significantly enhance bilateral economic engagement by improving market access, promoting investment flows and strengthening strategic cooperation. It is also set to create new opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth in both countries across multiple sectors.

Building on the foundation laid by the agreement, both leaders expressed confidence that bilateral trade could be doubled over the next five years. They also welcomed the prospect of USD 20 billion in investment from New Zealand into India over the next 15 years.

In addition to economic cooperation, Prime Minister Modi and Prime Minister Luxon reviewed progress in other key areas of the partnership, including defence cooperation, sports, education and people-to-people exchanges. They reaffirmed their commitment to further strengthening the comprehensive India–New Zealand relationship.

The two leaders agreed to remain in close contact to advance shared goals and ensure the effective implementation of the Free Trade Agreement.