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NEW DELHI: The conclusion of the India-New Zealand free trade agreement (FTA) in record nine months will serve as a catalyst for greater trade, investment, innovation and shared opportunities between both countries, PM Narendra Modi and his counterpart Christopher Luxon said after jointly announcing the conclusion of talks.“The FTA would significantly deepen bilateral economic engagement, enhance market access, promote investment flows, strengthen strategic cooperation between the two countries and also open up new opportunities for innovators, entrepreneurs, farmers, MSMEs, students and youth of both countries across various sectors,” said an official statement.With the strong and credible foundation provided by the FTA, both leaders expressed confidence in doubling bilateral trade over the next five years as well as an investment of $20 billion in India from New Zealand over the next 15 years, it added. The leaders also welcomed the progress achieved in other areas of bilateral cooperation, such as sports, education and people-to-people ties, and reaffirmed their commitment to strengthening further the India-New Zealand partnership.“India–New Zealand FTA, that brings in $20 billion investment and offers lucrative opportunities for Indian innovators, entrepreneurs, farmers, MSMEs, students and youth will open new gateways to prosperity. It is a textbook example of how people-centric foreign policy is fulfilling the aspirations of citizens under PM Modi’s leadership (sic),” Union home minister Amit Shah said on X.
