New Zealand PM Defies Minister, Seals Historic $20B India FTA

• New Zealand PM Christopher Luxon signed a Free Trade Agreement (FTA) with India, despite objections from Foreign Minister Winston Peters.
• The FTA includes a USD 20 billion (INR 1.66 trillion) investment from New Zealand into India over 15 years, targeting manufacturing, infrastructure, and job creation.
• India gains zero-duty access for all its exports to New Zealand, benefiting sectors like textiles, pharmaceuticals, and services.
• New Zealand will receive duty exemptions on 70% of India's tariff lines, boosting its agricultural, dairy, and food processing exports to India's vast market.
• PM Luxon hailed the agreement as a major economic step, strengthening ties and creating new opportunities for both nations.

Why It Matters: India and New Zealand forge a significant FTA with a $20B investment, boosting trade and economic ties.