The newly signed India-New Zealand Free Trade Agreement (FTA) will unlock a wide range of possibilities in important sectors of society, from farmers and small firms to startups and students, Prime Minister Narendra Modi said on Monday, calling it a revolutionary move for inclusive growth.
According to a tweet from Prime Minister Modi on the social media platform X, the agreement is a “landmark moment” in bilateral relations, demonstrating strong trust, shared values, and expanding aspirations between the two countries.
He emphasized that the agreement’s goal is to boost trade, empower various segments of society, and hasten India’s path toward progress.
“Today is a historic day for the cooperation between India and New Zealand. Today’s signing of the India-New Zealand FTA will give our development partnership a boost like never before, and I am thrilled about it,” Prime Minister Modi said.
The Prime Minister said, “It mirrors the profound faith, shared ideals, and aspirations that unite our two countries. ”
He also emphasized New Zealand’s $20 billion investment pledge, pointing out that it will improve collaboration in agriculture, manufacturing, innovation, and technology, laying the groundwork for a more vibrant economic partnership.
Prime Minister Modi stated, “This agreement will be very beneficial for our farmers, youth, women, MSMEs, artists, entrepreneurs, students, and innovators. ”
“It will open new avenues for growth, create opportunities, and deepen our synergy across sectors,” he said.
Similarly upbeat, New Zealand Prime Minister Christopher Luxon referred to the agreement as a “historic milestone” that heralds a new era in relations between the two nations.
Luxon stated that the discussions started only 13 months ago, after his trip to India, and praised the ministers and officials of both nations for coming to a thorough understanding so quickly.
“India is one of the world’s largest and fastest-growing economies, but our trade relationship has only begun to scratch the surface of its potential. Prime Minister Modi and I were able to see that an FTA would represent a huge potential for our two nations, he said.