Prime Minister Narendra Modi on Monday held a telephone conversation with New Zealand Prime Minister Christopher Luxon, during which the two leaders jointly announced the conclusion of a landmark India-New Zealand Free Trade Agreement (FTA).
According to the Prime Minister’s Office (PMO), the agreement has been finalised in a record nine months since negotiations were initiated during PM Luxon’s visit to India in March 2025. The leaders said the swift conclusion of the FTA reflects the shared ambition and strong political will in both countries to deepen bilateral ties.
The FTA is expected to significantly boost economic engagement between India and New Zealand by enhancing market access, promoting investment flows and strengthening strategic cooperation. It is also aimed at creating new opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth in both countries across a range of sectors.
Building on the foundation provided by the agreement, PM Modi and Prime Minister Luxon expressed confidence in doubling bilateral trade over the next five years. They also noted the potential for New Zealand investments worth USD 20 billion in India over the next 15 years.
The two leaders welcomed progress in other areas of bilateral cooperation, including defence, sports, education and people-to-people ties, and reaffirmed their commitment to further strengthening the India–New Zealand partnership.
Both leaders agreed to remain in close touch as the two countries move forward with the implementation of the FTA and other aspects of their growing relationship.
