New Zealand Prime Minister Christopher Luxon revealed that Indian Prime Minister Narendra Modi is set to embark on his inaugural official trip to New Zealand next week. Luxon emphasized the significance of India as one of the world’s largest and fastest-growing economies, playing a crucial role in New Zealand’s future economic prosperity.
Luxon highlighted the deepening partnership between the two nations through the New Zealand-India Free Trade Agreement signed in April. This agreement is expected to boost job creation, enhance exports, and drive economic growth for New Zealand by tapping into a market of 1.4 billion people.
The upcoming visit of Prime Minister Modi is scheduled for July 10 in Auckland, with departure on July 11. This visit follows the recent signing of the FTA between India and New Zealand, aiming to strengthen bilateral economic ties and eliminate tariffs on a significant portion of New Zealand’s exports.
The FTA is anticipated to foster closer trade and investment relations between the two countries. It will facilitate duty-free imports of essential manufacturing inputs for India, such as wooden logs, coking coal, and scrap metals, thereby bolstering Indian manufacturing competitiveness and supply chains.
In addition to trade aspects, the agreement includes collaboration in agriculture, focusing on supporting Indian farmers in kiwi fruit, apple, and honey production through an agrotechnology plan. The partnership between India and New Zealand is underpinned by shared democratic values, Commonwealth connections, and a joint commitment to stability and prosperity in the Indo-Pacific region.
