India, New Zealand strike landmark free trade agreement: 10 points

This landmark Agreement will eliminate or reduce tariffs on 95 percent of New Zealand’s exports to India, one of the highest levels of tariff concessions offered under any Indian Free Trade Agreement. Of these exports, nearly 57 percent will be duty-free from the very first day, rising to 82 percent once the Agreement is fully implemented. The remaining 13 percent of exports will benefit from substantial tariff reductions, providing New Zealand exporters with significantly improved access to the vast Indian market. This historic deal is expected to strengthen trade ties, boost economic growth, and create new opportunities for businesses and consumers in both countries.

Christopher Luxon, Prime Minister of New Zealand, speaks with Prime Minister Narendra Modi following the conclusion of the New Zealand-India Free Trade Agreement.

"The FTA reduces or removes tariffs on 95% of our exports to India. It’s forecast that NZ exports to India could increase USD1.1 to USD1.3B per year over the coming two decades. Boosting trade means more Kiwi jobs, higher wages and more opportunities for hard-working New Zealanders. The agreement builds on the strong friendship between our two countries. India is one of the fastest-growing economies in the world, and this gives Kiwi businesses access to 1.4 billion Indian consumers. Our Government is relentlessly focused on fixing the basics and building the future - with new trade deals like this helping to grow our economy so all Kiwis can get ahead, "tweeted Luxon.