India-New Zealand FTA can be a ‘beacon’ for global trade, says minister Todd McClay
The India-New Zealand Free Trade Agreement is expected to begin next month, boosting business growth. Indian exporters will gain zero-tariff access to New Zealand's market from day one. New Zealand anticipates deeper access to India's large consumer market and increased investment. Both nations aim to double bilateral trade to NZ$7 billion by 2030. Direct flights between the countries could…
New Zealand Trade and Investment Minister Todd McClay has hailed the India-New Zealand Free Trade Agreement as a model for global trade, stating that it illustrates how trust and predictable regulations can boost business expansion amid trade uncertainties. According to McClay, the agreement, set to commence within a month, will provide Indian exporters with zero-tariff access to the New Zealand market, opening up opportunities in pharmaceuticals, chemicals, machinery, and services.
It will also enhance New Zealand's access to India's vast consumer market, particularly in food, services, investment, and other sectors. The two nations aspire to double bilateral trade to NZ$7 billion by 2030, with current two-way trade at NZ$4 billion. McClay emphasized the people-to-people aspect of the agreement, particularly education, and predicted the launch of direct flights between India and New Zealand within a year to boost tourism, business travel, and familial visits.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
