India, New Zealand to Finalize Trade Deal—New Zealand's PM
In a post shared on social media, Luxon says the deal process begins about a year ago after his meeting with Indian Prime Minister Narendra Modi in New Delhi. He describes the agreement as a “once-in-a-generation” opportunity expected to significantly expand access for New Zealand exporters to India’s large consumer market.
“It means more jobs on farms and orchards, it means more money coming into local communities, and it means more opportunities for your family to get ahead,” Luxon said.
He also shares a video earlier in the week outlining the anticipated economic benefits of the free trade agreement.
On the Indian side, Commerce Minister Piyush Goyal says the agreement will create major opportunities for domestic businesses. After talks with New Zealand Trade and Investment Minister Todd McClay, he states that the deal aims to double bilateral trade and provide broader duty-free access for Indian exporters to New Zealand markets.
The agreement also includes a commitment from New Zealand to invest around $20 billion in India over the next 15 years, targeting sectors such as manufacturing, infrastructure, services, innovation, and job creation, according to reports.
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