Why the India-New Zealand FTA is a booster shot for trade ties

THE INDIA–NEW ZEALAND FTA, signed on April 27, has been termed as a ‘once-in-a-generation’ pact. The ninth bilateral deal signed by India in five years promises to double the trade between the two partners to $5 billion by 2031. “This forward-looking agreement will facilitate $20 billion of investment into India, deepening our cooperation in trade, services, investment, innovation, mobility, agriculture productivity, and education, and creating pathways for skilled talent and students,” commerce minister Piyush Goyal said after signing the pact. “It expands market access across 118 sectors, strengthens MSMEs, exports, and the innovation agenda.”