10th May 2025 (13 Topics)
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India-New Zealand FTA Talks
Context
India and New Zealand concluded the first round of negotiations for a proposed Free Trade Agreement (FTA).
Key-highlights
- India and New Zealand's bilateral trade relationship has seen a sharp upward trajectory in recent years with merchandise trade between the two countries reaching USD1.3 billion in 2024–25, a growth of 48.6 percent on-year.
- The FTA is expected to further elevate trade and investment potential, improve supply chain integration, and foster a predictable and transformative trading environment for businesses on both sides.
- Key-items for trade:
- Exports to New Zealand include clothing, fabrics, and home textiles; medicines and medical supplies; refined petrol; agricultural equipment and machinery such as tractors and irrigation tools; auto; iron and steel; paper products; electronics; shrimps; diamonds; and basmati rice.
- Imports from New Zealand: Agricultural goods, minerals, apples, kiwifruit, meat products such as lamb, mutton, milk albumin, lactose syrup, coking coal, logs and sawn timber, wool, and scrap metals
- India has recently agreed upon a FTA with UK and is currently negotiating trade deals with a slew of nations and blocs including European Union, United States and Oman.
Why India and New Zealand Matter to Each Other?
- India's Importance for New Zealand
- Large Market: India’s 1.4 billion population and rising middle class offer strong demand for dairy, meat, and wine exports.
- Skilled Manpower: India is NZ’s largest source of skilled migrants and 2nd-largest source of international students.
- Digital Ecosystem: India’s 880 million internet users offer opportunities for digital services, AI, and fintech.
- Strategic Alignment: India's Indo-Pacific role supports NZ's regional stability
- New Zealand's Importance for India
- Agricultural Modernization: Expertise in dairy, food logistics, and horticulture supports Indian farm reforms.
- Education & Skill Development: Offers vocational training and high-quality tertiary education.
- Climate Tech Partner: NZ firms feature in HolonIQ Indo-Pacific Climate Tech 100—relevant to India's green goals.
- Maritime & Defence: Potential buyer of Indian radars, patrol vessels, aligning with NZ’s Pacific maritime concerns.
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