By Admin 
India-New Zealand FTA: A big change has been seen in the relations between India and New Zealand. After almost 40 years, the visit of a Prime Minister of New Zealand to India and important talks between the two countries have opened new avenues for trade relations. Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon have together prepared the roadmap of ‘Vision 2030’, the aim of which is to strengthen the economic partnership between the two countries. Both the countries are trying to increase bilateral trade to about Rs 35,000 crore in the coming years.
New beginning in India-New Zealand relations
There have been good diplomatic relations between India and New Zealand for a long time, but on the economic front, the pace of trade between the two countries had not increased as expected. Now both the countries have prepared Vision 2030 to reduce this gap. In the meeting of Prime Minister Modi and PM Laxon, it was agreed that both the countries will work towards easing access to each other’s markets, increasing investment and strengthening business cooperation.
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trade worth Rs 35000 crore
Most of the focus has been on increasing trade between India and New Zealand. Both countries want that business activities should increase rapidly in the coming times and companies should get new opportunities. New Zealand can become an important partner for India in sectors like agriculture, dairy and technology. At the same time, India can become a big market for New Zealand in pharma, IT, manufacturing and service sectors.
Tariff free entry for New Zealand exports
New Zealand exporters are expected to get the biggest benefit from the trade agreement between India and New Zealand. According to New Zealand Prime Minister Christopher Luxon, 57% of New Zealand’s exports will get tariff-free entry into India from the first day after the trade deal is implemented. This will help New Zealand’s agricultural, food processing and dairy goods to reach the Indian market. At the same time, India also hopes to get better opportunities for its products in the New Zealand market. This agreement will open new avenues of trade between the two countries.
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What are the big deals?
1. Trade and Investment- India and New Zealand are going to focus on making investment easier for businessmen and promoting new partnerships.
2. Education- Both countries will work to increase cooperation between students, universities and research institutes.
3. Agriculture and Dairy- New Zealand is famous for its dairy and agricultural technology. India can benefit from this consent.
4. Security- Both the countries have talked about increasing cooperation in the field of defense and maritime security. This decision has been taken in view of the changing situations in the Indo-Pacific region.
5. Technology- Both the countries have also agreed to work together in digital technology and startups.
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