India and New Zealand have signed a free trade agreement that aims to boost farmers' incomes, strengthen rural economies, and attract billions of dollars in investment. The pact gives duty-free access to 100% of India's exports to New Zealand and opens the door to agricultural technology partnerships, joint ventures, and lower-cost industrial inputs for Indian manufacturers.
Prime Minister Narendra Modi said the agreement would combine New Zealand's farming expertise with India's development priorities, driving transformational gains in productivity and infrastructure. The pact includes an agricultural productivity partnership with centres of excellence, improved planting material, grower training, and joint research and technical support.
New Zealand has committed $20 billion in investments across agriculture, manufacturing, infrastructure, startups, innovation, and emerging technologies. The agreement is expected to come into force later this year after ratification by New Zealand's Parliament.
The FTA is expected to boost labour-intensive sectors including textiles, apparel, leather, footwear, gems, and jewellery, engineering goods, and processed foods by improving access to the New Zealand market.
