New Delhi [India], April 27 : Prime Minister Narendra Modi on Monday said that the India-New Zealand Free Trade Agreement, signed today in the national capital, marks a landmark moment in the India-New Zealand partnership and will benefit farmers, youth, women, MSMEs, artisans, startups, students and innovators.
PM Modi said that the FTA will add unprecedented momentum to India-New Zealand developmental partnership.
"Today marks a landmark moment in the India-New Zealand partnership! I am delighted that the India-New Zealand FTA signed today will add unprecedented momentum to our developmental partnership. It reflects the deep trust, shared values and ambition that bind our two nations," PM Modi said in a post on X responding to a post by his New Zealand counterpart Christopher Luxon.
PM Modi said the FTA will open new avenues for growth and deepen synergy across sectors.
"This agreement will greatly benefit our farmers, youth, women, MSMEs, artisans, startups, students and innovators. It will open new avenues for growth, create opportunities and deepen our synergy across sectors. The investment commitment of $20 billion by New Zealand will further strengthen our cooperation in agriculture, manufacturing, innovation and technology, paving the way for a more prosperous and dynamic future for both countries," the Prime Minister said.
In his post, the New Zealand Prime Minister said that the agreement matters not just because of what it does economically, but because of what it says strategically.
"Today, we mark a historic milestone in the relationship between India and New Zealand: the signing of our Free Trade Agreement. It was only 13 months ago that I travelled to India to meet with Prime Minister Modi and launch Free Trade Agreement negotiations. India is one of the world's largest and fastest-growing economies, but our trade relationship has only begun to scratch the surface of its potential. Prime Minister Modi and I could see that an FTA would be a massive opportunity for both our two countries," he said.
"Since my visit last March, Ministers Piyush Goyal and Todd McClay, and their officials, have worked tirelessly to negotiate a deal. The outcome of that hard work is a deal that delivers for India and for New Zealand. My congratulations to Minister Goyal, Minister McClay and all the negotiators who made this possible," he added.
PM Luxon said that for New Zealand, the FTA opens the door to one of the world's most dynamic markets and creates unprecedented opportunities to trade, invest, innovate and connect.
"This deal will help diversify New Zealand's export markets, support the goal of doubling the value of our exports over 10 years, and put New Zealand exporters on a more level playing field with competitors already enjoying preferential access in India," he said.
"For India, this deal means growth, innovation and new opportunities. It gives Indian exporters tariff-free access to the New Zealand market from day one, and it gives Indian consumers improved access to our high-quality exports. It creates new ways for India to partner with New Zealand on agricultural productivity and benefit from New Zealand's world-leading agri-tech and food-production expertise. This agreement matters not just because of what it does economically, but because of what it says strategically," he added.
PM Luxon said that the FTA is a clear commitment by both sides to stable, predictable, and rules-based trade at a time of global uncertainty.
"And the India-New Zealand story is about more than trade. New Zealand and India are building a relationship that is bigger, deeper and more exciting every year - across trade, investment, defence, sport, and innovation," he said.
"New Zealand's vibrant Indian diaspora is central to the strong relationship between our two countries. In Prime Minister Modi's words, the diaspora is a 'living bridge' between New Zealand and India. The contribution of the Indian community to New Zealand is immense: in business, in science, in education, in health, in the arts, in sport, and in communities right across the country. While today is a big milestone, it is also just the beginning. We are excited about the next chapter in India-New Zealand relations," he added.
Earlier, Commerce and Industry Minister Piyush Goyal read a message from PM Modi during the FTA signing ceremony.
In his message, the Prime Minister said that the agreement marks a milestone in India's journey towards deeper global engagement and shared prosperity.
He said the signing of the India-New Zealand Free Trade Agreement reflects the strengthening bilateral economic partnership and a convergence of values, trust and shared ambition between two vibrant democracies.
He congratulated the people of the two countries, especially the youth, "who are the heartbeat of our economies".
"Modern and balanced, this FTA synergizes the complementarities of our two economies through collaborations that drive collective growth. The FTA catalyzes new opportunities for our farmers, artisans, youth, entrepreneurs, women, and MSMEs unlocking pathways for global market access and enterprise across sectors from agriculture and manufacturing to technology, education and services," he said.
PM Modi said the agreement reaffirms the commitment to deepen bilateral ties, grounded in democratic values and strong people-to-people connections.
"The agricultural productivity partnership and Centers of Excellence bring together New Zealand's advanced agricultural expertise and India's national priorities to drive transformational gains in productivity and infrastructure while delivering meaningful benefits to our farmers and rural economies. In the last decade or so, India has been working to become a significant part of the global supply chain in manufacturing," he said.
"Our Make in India flagship initiative offers synergy to New Zealand's investment commitment of US dollars 20 billion in India, and delivers a vibrant partnership that goes beyond trade. This will support the startup ecosystem, entrepreneurs, innovators, women-led enterprises, MSMEs, energising job creation and redefining innovation, driven growth," he added.
The Prime Minister said India is a nation with one of the largest populations of youth and the skills, strengths and talents of the country's youth are lauded worldwide.
"The FTA recognizes the importance of skills, talent and mobility in shaping future growth across sectors and in new and emerging technologies. It expands opportunities for talented, skilled professionals - our youth and students. As a pioneering collaboration, the FTA promotes the global relevance of traditional knowledge systems of both countries, including organics, Ayush and yoga, thereby bridging our traditions with future opportunities to expand the dimensions of our partnership," he said.
"By aligning our strengths, we will advance supply chain resilience and build affordable, competitively priced goods and services, creating new engines of growth for both nations. Our collaboration will be a decisive and win-win alliance that benefits the citizens of both nations. Let us build the future together defined by a shared purpose and shared aspirations of our people," he added.
India and New Zealand today signed the India- New Zealand Free Trade Agreement (IN- NZ FTA) at Bharat Mandapam to strengthen India's global economic partnerships.
The Agreement was signed by Union Minister of Commerce and Industry Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay.
The signing ceremony brought together businesses and industry leaders from both countries, with Todd McClay leading a cross-party delegation of Members of Parliament and over 30 New Zealand businesses.