PM Modi Speaks to New Zealand's Christopher Luxon; India, NZ Announce Conclusion of FTA Negotiations

New Delhi: Prime Minister Narendra Modi spoke to Prime Minister of New Zealand, Christopher Luxon, in a telephone conversation, on December 22. Notably, the two leaders jointly announced the successful conclusion of the historic, ambitious and mutually beneficial India–New Zealand Free Trade Agreement (FTA).

What Commerce Secretary Rajesh Agrawal said?

It is to be noted here that after India and New Zealand announced free trade agreement, Rajesh Agrawal, Commerce Secretary, speaking to ANI, said, "A new generation trade agreement built on tariffs, agricultural productivity, Investment and Talent with complementarity at the core. India’s strengths expand exports, support labour-intensive growth and power services. New Zealand gains deeper, more predictable access to India’s large and growing economy. The movement of people-students, professionals, and skilled workers converges these strengths."

What Piyush Goyal said on FTA deal?

Meanwhile, on India-NZ FTA, Union Minister for Trade and Investment, Piyush Goyal said, "Today this Free Trade Agreement is about building trade around people and launching opportunities – for our farmers, for our entrepreneurs, for our students, for our Women and for our innovators. Boosting yields and farmer incomes, the agreement drives modern agricultural productivity. It opens doors for Indian businesses in the region through well-integrated directional exports and gives our youth choices to learn, work and grow on a global stage."

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 USD 20 billion in India from New Zealand over the next 15 years. 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 towards further strengthening of the India-New Zealand partnership.

What PM Modi revealed after conversation with Christopher Luxon?  

After the conversation with New Zealand's Christopher Luxon, PM Modi, said, ''The India-NZ partnership is going to scale newer heights. The FTA sets the stage for doubling bilateral trade in the coming 5 years. India welcomes investment worth over USD 20 billion from New Zealand across diverse sectors. Our talented youth, vibrant startup ecosystem and reform-driven economy offer a strong foundation for innovation, growth and long-term partnership. At the same time, we continue to strengthen cooperation in other areas like sports, education and cultural linkages.''