India and New Zealand sign a free trade agreement to deepen economic ties

"The agreement comes as New Delhi moves to diversify export markets to offset the impact of steep tariffs imposed by the United States and instability in shipping and energy routes due to the Iran war."

"For New Zealand, the agreement is part of a broader push to reduce reliance on China, its largest trading partner."

"The deal will cut or eliminate tariffs on 95% of New Zealand's exports to India, while making all Indian exports to New Zealand duty-free."

"McClay said the deal marked a once-in-a-generation opportunity to deepen economic ties at a time of rising global trade tensions and uncertainty."

India and New Zealand signed a free trade agreement aimed at deepening economic ties and expanding market access. The deal addresses global trade disruptions and diversifies export markets for India, countering U.S. tariffs and instability from the Iran war. For New Zealand, it reduces reliance on China, its largest trading partner. The agreement, negotiated over nine months, will eliminate tariffs on 95% of New Zealand's exports to India and make all Indian exports to New Zealand duty-free. New Zealand plans to invest $20 billion in India over the next 15 years.

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