India and New Zealand Drive Forward Free Trade Agreement Talks

India and New Zealand have made significant strides in their negotiations toward a Free Trade Agreement (FTA), both nations are steadfast in their commitment to securing a balanced and mutually beneficial deal, said New Zealand's Trade and Investment Minister, Todd McClay.

During a media briefing attended by India's Union Minister Piyush Goyal and New Zealand Prime Minister Christopher Luxon, McClay emphasized the dedication of both countries to reach an agreement. 'We are optimistic, and our focus remains on ensuring the deal is fair and durable,' he stated. He noted that ongoing discussions had seen unprecedented negotiating rounds, with both sides addressing challenges collaboratively.

McClay highlighted New Zealand's strategic goal to strengthen ties with India, remarking on the rapid growth of bilateral relations. High-level engagements have spurred trade expansion, with commitments for further collaborations, including direct flights by 2028. Union Minister Goyal reiterated the importance of allowing negotiations to unfold without strict timetables, underscoring the strategic nature of the partnership.

Despite the absence of specific timelines, the negotiations emphasize a shared commitment to fostering robust economic connections. Statistics from 2023-24 revealed bilateral trade reached USD 1.75 billion, illustrating the existing and potential future opportunities. Key imports to India include wool, fruit, and metals, while pharmaceuticals and machinery are major exports to New Zealand.