India, New Zealand Seal Landmark Trade Accord
Bilateral trade between New Delhi and Wellington amounted to $2.4 billion in 2024, with services alone contributing $1.24 billion, primarily driven by tourism, information technology, and business-related activities, according to a statement from India’s Commerce Ministry on Monday.
“My friend PM Christopher Luxon and I had a very good conversation a short while ago following the conclusion of the landmark India-New Zealand Free Trade Agreement,” Indian Prime Minister Narendra Modi shared on X.
The deal was wrapped up in just nine months and “reflects a strong political will and shared ambition to deepen economic ties between our two countries,” Modi emphasized. Talks for the accord began during Luxon’s visit to India in March.
New Zealand has pledged to invest $20 billion in India over the next 15 years, targeting manufacturing, infrastructure, services, innovation, and job creation, the ministry noted.
The agreement also includes provisions for temporary work-entry visas for Indian professionals, with a cap of 5,000 at any given time and a maximum stay of three years in New Zealand.
A formal signing of the accord is expected within three months, according to a media outlet
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