New Zealand businesses set to boom with our India trade deal: PM Luxon

New Delhi, July 9 (IANS) New Zealand Prime Minister Christopher Luxon on Thursday said that 57 per cent of the country’s exports to India would become tariff-free from the first day under the free trade agreement (FTA).

In a post on X, Luxon said, “New Zealand businesses are set to boom with our India Trade Deal” and 57 per cent of everything we export to India will be tariff free from day one.”

The comment came ahead of Prime Minister Narendra Modi’s two-day visit to New Zealand from July 10 to 11.

The visit follows an invitation from Prime Minister Luxon and marks the first state visit by an Indian Prime Minister to New Zealand in nearly 40 years.

According to PM Modi, the “visit will meaningfully build upon the strong momentum in our bilateral ties pursuant to the visit of Prime Minister Luxon to India in March 2025”.

“During my visit, I shall discuss with Prime Minister Luxon how to further enhance economic, trade and commercial engagements. India and New Zealand have committed themselves to strengthening bilateral trade and commercial ties with the signing of the Free Trade Agreement,” PM Modi mentioned in an earlier X post.

The Prime Minister further stated that the Indian diaspora has made significant contributions to the India-New Zealand ties and he looks forward to addressing a large gathering of the Indian community “who have excelled in all spheres of life”.

On April 27 this year, India and New Zealand finalised a landmark FTA, marking a pivotal moment in their bilateral relationship.

Luxon described India-New Zealand FTA as a once-in-a-generation opportunity, underscoring the scale and potential of the Indian market. Luxon also pointed to India’s emergence as a rapidly expanding consumer economy.

Luxon emphasised that the FTA positions New Zealand to align closely with India’s economic trajectory as it transitions toward becoming one of the world’s largest economies.

–IANS

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