New Zealand Prime Minister Christopher Luxon has described the recently finalised free trade agreement (FTA) with India as a “once-in-a-generation opportunity,” highlighting the vast potential of the Indian market. Luxon said the deal would create jobs, lift wages, and provide more opportunities for New Zealanders, noting that India’s 1.5 billion population and rising income levels present a rapidly expanding consumer economy. He emphasised that the agreement would significantly reduce trade barriers, with 57% of New Zealand’s exports to India becoming tariff-free from day one, and further reductions phased in over time, enhancing the competitiveness of Kiwi products globally.
The landmark pact, signed in New Delhi on April 27 by Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay, is expected to come into force by the end of the year. From India’s perspective, the agreement reflects its push to expand its global trade footprint, with Goyal noting it as the seventh FTA concluded under his tenure in three-and-a-half years. Both nations view the deal as transformative, opening new avenues for trade, investment, and strategic cooperation amid shifting global economic alignments.