New Zealand businesses set to boom with our India trade deal: PM Luxon
New Delhi, July 9
New Zealand Prime Minister Christopher Luxon on Thursday said that 57 per cent of the country's exports to India would become tariff-free from the first day under the free trade agreement.
In a post on X, Luxon said, "New Zealand businesses are set to boom with our India Trade Deal" and 57 per cent of everything we export to India will be tariff free from day one."
The comment came ahead of Prime Minister Narendra Modi's two-day visit to New Zealand from July 10 to 11.
The visit follows an invitation from Prime Minister Luxon and marks the first state visit by an Indian Prime Minister to New Zealand in nearly 40 years.
According to PM Modi, the "visit will meaningfully build upon the strong momentum in our bilateral ties pursuant to the visit of Prime Minister Luxon to India in March 2025".
"During my visit, I shall discuss with Prime Minister Luxon how to further enhance economic, trade and commercial engagements. India and New Zealand have committed themselves to strengthening bilateral trade and commercial ties with the signing of the Free Trade Agreement," PM Modi mentioned in an earlier X post.
The Prime Minister further stated that the Indian diaspora has made significant contributions to the India-New Zealand ties and he looks forward to addressing a large gathering of the Indian community "who have excelled in all spheres of life".
On April 27 this year, India and New Zealand finalised a landmark FTA, marking a pivotal moment in their bilateral relationship.
Luxon described India-New Zealand FTA as a once-in-a-generation opportunity, underscoring the scale and potential of the Indian market. Luxon also pointed to India's emergence as a rapidly expanding consumer economy.
Luxon emphasised that the FTA positions New Zealand to align closely with India's economic trajectory as it transitions toward becoming one of the world's largest economies.
— IANS
Reader Comments
Ah, finally! After years of talk, we're actually signing FTAs with developed nations. This will be huge for Indian IT, pharma, and textile exports to NZ. PM Modi ji's diplomacy is working wonders. Looking forward to the state visit after 40 years!
As someone who trades with both countries, this is excellent. NZ kiwifruit and dairy will be cheaper, Indian textiles and spices will get better access. It's a win-win. The Indian diaspora in NZ is thriving too - expect even more cultural exchange now!
This is a big shift - India is finally opening up to more FTAs after years of protecting local industry. I hope our manufacturing sector is competitive enough to handle this. But overall, more trade means more jobs and better products for consumers. Smart move!
As a Kiwi living in India, I'm thrilled! L&P and Whittaker's chocolate might finally be affordable here 😄 More importantly, this will boost tourism and education ties. Indian students going to NZ and vice versa - amazing opportunities ahead!
"Once-in-a-generation opportunity" - PM Luxon said it right. India's consumer market is exploding with a growing middle class. Kiwi businesses are smart to get in early. Just hope our regulations don't become a hurdle for actual trade to flow smoothly. 🤞
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