New Delhi: India and New Zealand are working towards finalizing a comprehensive Free Trade Agreement (FTA), Union Minister of Commerce & Industry Piyush Goyal announced at a business leaders' forum in New Delhi. The event was attended by New Zealand Prime Minister Right Honourable Christopher Luxon, Trade Minister Hon'ble Todd McClay, and senior officials.
Goyal emphasized the vast potential for bilateral trade growth, targeting a tenfold increase over the next decade. Prime Minister Luxon highlighted India’s strategic importance for New Zealand, citing a significant opportunity to expand the current $3 billion trade volume.
Key areas of cooperation include agri-tech, dairy, food processing, pharmaceuticals, renewable energy, forestry, tourism, and sports. Goyal stressed that India’s economy, projected to grow to $30-35 trillion in the next 25 years, offers immense opportunities for collaboration.
The Minister reaffirmed India's commitment to strengthening financial and digital linkages and promoting workforce mobility. He also emphasized the role of education and research in deepening ties. Both leaders expressed confidence that the FTA will enhance economic cooperation and create a mutually beneficial partnership.
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