New Zealand pledges 57 per cent tariff-free access for Indian exporters as Modi makes the first visit by an Indian Prime Minister in nearly 40 years.
New Zealand Prime Minister Christopher Luxon announced that 57 per cent of the country’s exports to India will be tariff-free from day one under the new India-New Zealand Free Trade Agreement, ahead of Prime Minister Narendra Modi’s two-day state visit to New Zealand, the first by an Indian Prime Minister in nearly 40 years. The agreement, signed in April, will eliminate 95 per cent of tariffs on goods from New Zealand, with bilateral merchandise trade between the two countries standing at $1.3 billion in 2024-25 and total trade in goods and services reaching approximately $2.4 billion in 2024. Luxon described the deal as a major win for New Zealand businesses seeking enhanced access to the Indian market, while Modi’s visit centres on the free trade deal, defence ties and the country’s growing Indian community.
Source: Reuters / Tribune India / India Shipping News
