India, New Zealand seal landmark Free Trade Agreement in record 9 months

India and New Zealand on Monday announced the successful conclusion of a landmark Free Trade Agreement (FTA), with Prime Minister Narendra Modi and his New Zealand counterpart Christopher Luxon jointly unveiling the pact during a telephone call, signalling a major expansion of bilateral, economic and strategic ties.

Described by both sides as historic, ambitious and mutually beneficial, the India-New Zealand FTA was concluded in record nine months after negotiations were formally launched during PM Luxon’s visit to India in March 2025.

The rapid closure of talks, the two leaders said, reflected strong political will and a shared ambition to take the relationship to a higher trajectory.

According to an official statement, the agreement is expected to significantly deepen bilateral economic engagement by enhancing market access, promoting investment flows and strengthening strategic cooperation.

It is also projected to open new opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth in both countries across a range of sectors.

Buoyed by the “strong and credible foundation” provided by the FTA, the two leaders expressed confidence that bilateral trade could be doubled over the next five years. New Zealand, they said, also envisages investments of around USD 20 billion in India over the next 15 years, underlining the long-term economic potential of the partnership.

Beyond trade and investment, PMs Modi and Luxon reviewed progress in other key areas of cooperation, including defence, sports, education and people-to-people ties. They reaffirmed their commitment to further strengthening the India-New Zealand partnership, positioning the FTA as a catalyst for broader strategic and societal engagement.

The two leaders agreed to remain in close touch as the agreement moves towards implementation, marking what officials described as a new chapter in the India-New Zealand relations.