India, New Zealand Seal Landmark FTA After Modi-Luxon Talks

• PM Modi and PM Luxon announced the successful conclusion of the India-New Zealand Free Trade Agreement (FTA) in a telephonic conversation.
• The landmark FTA was finalized in a record nine months, aiming to significantly deepen economic engagement and market access.
• The agreement is projected to double bilateral trade in five years and facilitate USD 20 billion New Zealand investment into India over 15 years.
• It reduces tariffs on 95% of New Zealand's exports to India, potentially increasing NZ exports from USD 1.1 billion to USD 1.3 billion annually.
• The FTA marks India's seventh such agreement recently, strengthening broader cooperation in defence, education, and people-to-people ties.

Why It Matters: India and New Zealand forge a historic FTA, boosting trade, investment, and bilateral ties significantly.