New Zealand Prime Minister Christopher Luxon announced on Thursday that 57% of New Zealand's exports to India will be tariff-free from the first day of the proposed India-New Zealand trade agreement. The announcement comes ahead of Indian Prime Minister Narendra Modi's scheduled state visit to New Zealand from July 10 to 11, which will be the first by an Indian premier in nearly four decades.
Key details of the trade pact
In a post on X, Luxon wrote: "New Zealand businesses are set to boom with our India Trade Deal. 57% of everything we export to India will be tariff free from day one." The agreement is expected to significantly boost New Zealand's export sector by reducing barriers to the Indian market.
India and New Zealand resumed negotiations for a Free Trade Agreement (FTA) earlier this year after a prolonged hiatus. Both nations aim to expand market access and deepen cooperation in sectors such as agriculture, technology, and services.
Modi's historic visit to New Zealand
Prime Minister Modi will undertake a two-day state visit to New Zealand from July 10 to 11 at the invitation of Christopher Luxon. This marks the first visit by an Indian Prime Minister to New Zealand in nearly 40 years, underscoring the growing importance of bilateral ties.
During his stay in Auckland, Modi and Luxon are scheduled to hold bilateral talks to review the full spectrum of India-New Zealand relations. According to an official government release, the discussions will focus on expanding cooperation in trade, commerce, and defence. The Prime Minister's Office noted that ties between the two countries have gained "significant momentum in recent years," particularly in economic and strategic sectors.
Diaspora and business engagement
Beyond official meetings, Modi is expected to interact with leading business and sports personalities and address a large gathering of the Indian diaspora in New Zealand. These engagements highlight the strong people-to-people links that underpin the bilateral relationship.
The trade deal and Modi's visit are seen as a milestone in India-New Zealand relations, with both sides expressing optimism about the potential for increased trade and investment flows.
