India, New Zealand announce new free trade agreement: ‘reflects a strong political will and shared ambition’

In a post on X, PM Modi said it was an “important moment for India-New Zealand relations, with a strong push to bilateral trade and investment”.

An important moment for India-New Zealand relations, with a strong push to bilateral trade and investment!

My friend PM Christopher Luxon and I had a very good conversation a short while ago following the conclusion of the landmark India-New Zealand Free Trade Agreement.…

— Narendra Modi (@narendramodi) December 22, 2025

“Concluded in just nine months, this historic milestone reflects a strong political will and shared ambition to deepen economic ties between our two countries… The India-NZ partnership is going to scale newer heights. The FTA sets the stage for doubling bilateral trade in the coming 5 years,” PM Modi added.

In a statement, the Ministry of External Affairs (MEA) said the two leaders agreed that the conclusion of the FTA in a record 9 months reflects their shared ambition and political will to deepen ties between the two countries further. The negotiations for the FTA began in March this year during Luxon’s visit to India.

FTA would significantly deepen bilateral economic engagement, enhance market access, promote investment flows, strengthen strategic cooperation between the two countries, and also open up new opportunities for innovators, entrepreneurs, farmers, Micro, Small and Medium Enterprises (MSMEs), students, and youth of both countries across various sectors, the statement added.

During the call, both leaders expressed confidence in doubling bilateral trade over the next five years, as well as an investment of $20 billion in India from New Zealand over the next 15 years.

“The leaders also welcomed the progress achieved in other areas of bilateral cooperation such as sports, education, and people-to-people ties, and reaffirmed their commitment towards further strengthening of the India-New Zealand partnership,” the MEA statement said.