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India-NZ FTA: Amit Shah Hails $20 Billion Deal as Trade Milestone

Home Minister Amit Shah has hailed the newly concluded India-New Zealand Free Trade Agreement as a significant milestone. He credited the Narendra Modi government's trade diplomacy for securing the deal, which brings substantial investment. The agreement is expected to open new economic gateways for Indian entrepreneurs, farmers, and students. Prime Ministers Modi and Christopher Luxon expressed confidence it will rapidly deepen ties between the two nations.

Key Points: Amit Shah Hails India New Zealand FTA as Modi Govt Milestone

  • Amit Shah praised the FTA as a milestone of Modi government's trade diplomacy
  • The deal promises $20 billion in New Zealand investment into India over 15 years
  • PM Modi and NZ PM Luxon aim to double bilateral trade within five years
  • The agreement eliminates tariffs on 95% of NZ exports, boosting market access
2 min read

HM Amit Shah hails India-NZ FTA, calls it trade diplomacy's milestone

Amit Shah calls India-New Zealand FTA a milestone in trade diplomacy, unlocking $20B investment and new opportunities for farmers, MSMEs, and youth.

"The Modi govt's trade diplomacy sets a new milestone. - Amit Shah"

New Delhi, Dec 22

Union Home Minister and Minister of Cooperation Amit Shah on Monday hailed India–New Zealand FTA and termed it as an outcome of the Narendra Modi government's trade diplomacy, which is setting a new milestone.

In a post on X, HM Shah said, "The Modi govt's trade diplomacy sets a new milestone. India-New Zealand FTA, that brings in $20 billion investment and offers lucrative opportunities for Indian innovators, entrepreneurs, farmers, MSMEs, students, and youth, will open new gateways to prosperity."

"It is a textbook example of how people-centric foreign policy is fulfilling the aspirations of citizens under PM Shri Narendra Modi Ji's leadership," he said.

Earlier, Prime Minister Narendra Modi held a telephone conversation with New Zealand's Prime Minister Christopher Luxon on Monday as the two leaders jointly announced the successful conclusion of the historic, ambitious and mutually beneficial India-New Zealand Free Trade Agreement (FTA).

During the conversation, both leaders expressed confidence in doubling bilateral trade over the next five years, as well as an investment of $20 billion in India from New Zealand over the next 15 years.

The negotiations began in March this year, and the two leaders concluded the FTA in a record time of nine months, reflecting the shared ambition and political will to further deepen ties between the two countries, according to a statement from the Prime Minister's Office (PMO).

"The FTA would significantly deepen bilateral economic engagement, enhance market access, promote investment flows, strengthen strategic cooperation between the two countries, and also open up new opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth of both countries across various sectors," said the statement.

The leaders also welcomed the progress achieved in other areas of bilateral cooperation, such as sports, education, and people-to-people ties, and reaffirmed their commitment towards further strengthening of the India-New Zealand partnership.

This historic FTA eliminates and reduces tariffs on 95 per cent of New Zealand's exports - among the highest of any Indian FTA - with almost 57 per cent being duty-free from day one, increasing to 82 per cent when fully implemented, with the remaining 13 per cent subject to sharp tariff cuts.

It puts New Zealand exporters on an equal or better footing to i

- IANS

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Reader Comments

S
Sarah B
As someone who studied abroad, the focus on opportunities for students is very encouraging. Easier movement and recognition of qualifications between India and NZ can be a game-changer for many young Indians looking for global exposure.
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Rohit P
Completed in just 9 months? That's some speed! Shows serious political will. But I have a question - what are we giving up in return for this market access? The details on tariffs for Indian exports to NZ would be interesting to see.
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Priya S
My brother runs a small agro-processing unit. If this FTA helps him export value-added products like spices or fruit pulps to New Zealand, it could transform his business. Waiting to see the actual sector-wise opportunities list.
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Michael C
While the ambition to double trade is commendable, I hope there are strong safeguards for our domestic industries, especially in agriculture. We've seen in past FTAs how local farmers can sometimes be undercut. The implementation will be key.
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Kavya N
More than just trade, the focus on sports and education ties is great. Imagine Indian students getting easier access to NZ universities or joint research in agriculture tech. This is about building a long-term partnership, not just a transaction. Well done!

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