India, New Zealand Set to Ink Major Trade Deal Soon

• India and New Zealand are poised to sign a Free Trade Agreement (FTA) soon, following several rounds of negotiations since March and Union Cabinet approval.
• The deal aims to deepen bilateral trade and investment, with discussions between PM Modi and New Zealand PM Christopher Luxon covering dairy, food processing, pharmaceuticals, renewable energy, and critical minerals.
• India is actively diversifying its export destinations, a move accelerated by recent US tariffs, as evidenced by new trade deals with Oman and the UK.
• Current trade between India and New Zealand in 2023-24 was $1.75 billion; India imports wool, iron, fruit, and exports pharmaceuticals, machinery, and textiles.
• Beyond trade, both nations are strengthening defense and security ties, planning collaboration in training, port visits, and maritime security through Combined Task Force-150.

Why It Matters: India and New Zealand are set to finalize a significant FTA, boosting trade and strategic cooperation.