Prime Minister hails India-New Zealand FTA as landmark moment

India and New Zealand signed a free trade agreement (FTA) on Monday. The pact, which is likely to come into force later this year, will have to be ratified by the Parliament in New Zealand. New Zealand’s trade minister Todd McClay and India’s commerce minister Piyush Goyal signed the official document of the pact at Bharat Mandapam in New Delhi. The Prime Minister, Narendra Modi, today hailed the India-New Zealand Free Trade Agreement (FTA) as a landmark moment in the partnership between the two countries.

Modi said that the agreement will add unprecedented momentum to the developmental partnership and reflects the deep trust, shared values and ambition that bind the two nations.

The Prime Minister noted that the FTA will greatly benefit farmers, youth, women, MSMEs, artisans, startups, students and innovators. He added that it will open new avenues for growth, create opportunities and deepen synergy across sectors.

Shri Modi further highlighted that the investment commitment of $20 billion by New Zealand will strengthen cooperation in agriculture, manufacturing, innovation and technology, paving the way for a more prosperous and dynamic future for both countries.

In New Zealand, the signed FTA will be reviewed by the Parliament’s foreign affairs, defence and trade committee (FADTC). Following a national interest analysis, which includes a public consultation, the committee will submit its report to Parliament for ratification. The process is expected to take at least six months.

Earlier on Sunday, New Zealand Prime Minister Christopher Luxon confirmed the signing of the agreement. “It’s once in a generation agreement,” he said in a video post on X, adding that India’s rise to the world’s third largest economy would offer Kiwi exporters “unprecedented access” to a market of 1.4 billion people.(UPDATED ON 27TH APRIL 2026)