India and New Zealand on Monday inked a free trade agreement at Bharat Mandapam in New Delhi, with Commerce and Industry Minister Piyush Goyal terming it as defining milestone in India's engagement with the developed world.
"We meet at a time when the world economy is being re-cast, the lines are being redrawn, nations are choosing partners, different countries are crafting the journey ahead. In this changing world, India and New Zealand have chosen each other. The India-New Zealand FTA has been concluded in a record 9 months," said Piyush Goyal.
Goyal said that the investment commitment of USD 20 billion from New Zealand signals strong confidence in India's growth story. "It places special emphasis on strengthening MSMEs, fostering innovation, and enabling women-led enterprises to thrive in global markets."
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Reflecting on upcoming trade agreements, Goyal said, "A pace that reflects the depth of trust and shared ambition between our nations. Signing of this FTA marks another defining milestone in India's engagement with the developed world and brings us closer to PM Modi's vision of Viksit Bharat 2047...It is the seventh FTA I am signing in the last 3.5 years, with two more to go. In the next few months, it will be with the European Union and the US..."
In a message on the signing of the India–New Zealand Free Trade Agreement, Prime Minister of New Zealand Mr. Christopher Luxon termed it a historic milestone, noting that the deal unlocks major opportunities for trade, investment, and innovation for both countries.
He highlighted that it will expand market access, support export growth, and enable collaboration in areas like agriculture, while also reinforcing a shared commitment to stable, rules-based trade and deeper people-to-people ties.
New Zealand Minister Todd McClay said, "In just a few hours, our two governments will take a significant step forward. One that reflects years of engagement, negotiation, and growing ambitions on both sides. However, what happens here today is just as important as what will happen later. Because while governments negotiate agreements, it is businesses that turn them into outcomes, jobs, innovation, exports, investment, and long-term partnerships."
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Acknowledging India's rapid economic transformation, the Minister noted its growing role in global economic activity and reiterated New Zealand's commitment to partnering with India in its development journey.
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