Fashion
India, New Zealand advance towards comprehensive FTA
Following five days of constructive and forward-looking discussions between the two sides, both delegations held detailed engagements across key tracks including trade in goods, trade in services, economic and trade cooperation, and rules of origin. The discussions reflected the shared ambition to strengthen economic ties and build a mutually beneficial partnership that supports resilient, inclusive, and sustainable growth.
India and New Zealand concluded the fourth round of FTA negotiations, led by Ministers Piyush Goyal and Todd McClay, reaffirming their commitment to a modern, comprehensive pact.
Talks covered goods, services, and cooperation, aiming to boost trade, investment, and supply-chain resilience.
Both sides agreed to maintain momentum toward an early, balanced, and mutually beneficial agreement.
Guided by the leadership of Prime Minister Narendra Modi, India remains committed to forging deeper economic partnerships that contribute to global prosperity and secure supply chains. The ministers noted that the proposed FTA is expected to significantly enhance trade flows, deepen investment linkages, strengthen supply-chain resilience, and provide greater predictability and market access for businesses in both countries, the Ministry of Commerce and Industry said in a press release.
The ongoing discussions reflect the shared resolve of both nations to expedite the process and work towards an early, balanced, and mutually advantageous conclusion of the agreement.
India’s bilateral merchandise trade with New Zealand stood at $1.3 billion in FY 2024–25, marking a year-on-year growth of nearly 49 per cent. The proposed FTA is expected to unlock further potential in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education, and services, creating new opportunities for businesses and consumers alike.
Both sides agreed to sustain momentum through inter-sessional work and continue detailed discussions across all chapters with a shared determination to move towards early convergence on the India–New Zealand Free Trade Agreement.
Fibre2Fashion News Desk (RR)