India-New Zealand FTA concluded in record time, Strategic Partnership to unlock new trade opportunities: PM Modi

India and New Zealand are poised to enter a new phase of economic engagement after Prime Minister Narendra Modi described the recently concluded Free Trade Agreement (FTA) as a landmark achievement that would accelerate bilateral trade, investment and long-term strategic cooperation.

Speaking during delegation-level talks in Auckland, Modi credited the swift conclusion of the pact to the leadership of New Zealand Prime Minister Christopher Luxon and said the agreement would lay the foundation for stronger business ties between the two countries.

The Prime Minister's visit—the first by an Indian Prime Minister to New Zealand in four decades—also marked the elevation of bilateral ties to a Strategic Partnership, signalling a broader collaboration that extends beyond trade to sectors such as investment, maritime security, innovation and people-to-people exchanges. The two countries have already set an ambitious target of doubling bilateral trade to NZ$7 billion (around ₹35,000 crore) by 2030, with the FTA expected to play a central role in achieving that objective.

FTA to accelerate trade and investment

Describing the agreement as a defining moment in bilateral relations, Modi said the speed at which the FTA was negotiated reflected the shared commitment of both governments to deepen economic engagement.

"This marks a historic milestone in our relationship, one that revitalises our ties and reaffirms our commitment to friendship. The way New Zealand united to bring the FTA to fruition in such a short time, perhaps a global first for such a swift success, is remarkable," he said, thanking Luxon, his government and negotiating teams for concluding the pact.

The agreement is expected to provide greater market access for businesses, strengthen investment flows and create fresh opportunities across sectors including agriculture, food processing, technology, tourism and services.

Strategic Partnership broadens economic agenda

Beyond trade, Modi said the newly announced Strategic Partnership would provide a long-term framework for expanding bilateral cooperation across emerging sectors. Recalling Luxon's visit to India during the Holi festival last year, he said the relationship had gathered fresh momentum and was now entering a more ambitious phase.

"Today, we are binding our relationship together through a Strategic Partnership. This milestone will inspire us to move forward with greater energy and confidence," Modi said.

Shared democratic values strengthen Indo-Pacific cooperation

Highlighting the broader significance of the partnership, Modi said India and New Zealand are "natural partners" because of their shared democratic values and common maritime interests in the Indo-Pacific.

"Our firm belief in democratic values makes us natural partners. It is a match made for each other. Our close cooperation as two maritime nations lends new strength to the Indo-Pacific," he said, adding that the partnership would not only deepen bilateral economic ties but also contribute to regional stability, peace and secure trade routes, reinforcing the strategic importance of the relationship for businesses and global commerce.

Meanwhile, Mahindra Group Managing Director and CEO Anish Shah stated that PM Narendra Modi's visit marks a defining moment in strengthening economic ties between the two countries following the signing of the Free Trade Agreement.

"Prime Minister Shri Narendra Modi's visit to New Zealand comes at a pivotal moment for the India-New Zealand partnership, following the signing of the Free Trade Agreement between the two countries. The FTA establishes a strong, forward-looking framework to deepen economic collaboration and unlock new avenues for growth. It also underscores India's rising stature as a trusted partner in building resilient, inclusive, and globally competitive value chains," said Shah.