Wed Mar 19 02:15:13 UTC 2025: ## India and New Zealand Aim for Speedy Free Trade Agreement
**New Delhi, March 19, 2025** – India and New Zealand are on track to sign a comprehensive free trade agreement (FTA) within 60 days, according to New Zealand Prime Minister Christopher Luxon. This ambitious timeline aims to boost bilateral trade tenfold over the next decade.
The announcement follows the resumption of FTA negotiations after a ten-year hiatus. Commerce Minister Piyush Goyal described the agreement as a “full-fledged Comprehensive Economic Partnership agreement,” emphasizing the complementary nature of both economies. While acknowledging potential sticking points regarding duty concessions on agricultural products like apples, kiwi, dairy, and wine, both governments expressed confidence in reaching a mutually beneficial agreement.
New Zealand Trade Minister Todd McClay highlighted the importance of respecting each other’s sensitivities during negotiations. Minister Goyal, while acknowledging the ambitious 60-day timeline, stressed that the agreement would be reached through cooperation, not coercion, and that no deadline is “sacrosanct.”
Despite the optimism, a report by the Global Trade Research Initiative (GTRI) suggests that the FTA’s benefits to Indian companies might be limited, given the already significant duty-free access to the New Zealand market. Current bilateral trade between the two countries stands at $873.4 million, a decrease from the previous year’s $1.02 billion. The large Indian diaspora in New Zealand is seen as a key asset in strengthening the trade relationship. Key exports from India include textiles, medicines, and agricultural machinery, while New Zealand’s main exports to India include agricultural products and minerals.
First Piper 