'Once-in-a-Generation': NZ PM Luxon Hails India Trade Deal as Gateway to 1.4 Billion Consumers

Ahead of the Foreign Trade Agreement between India and New Zealand, the country's Prime Minister took to social media platform X to highlight the significance of the deal.

Luxon described the pact as a "once-in-a-generation agreement" that gives New Zealand exporters unprecedented access to 1.4 billion people and an economy on track to become the world's third-largest.

"Just over a year ago, I met with Prime Minister Modi in India. We agreed then, that we'd launch negotiations on a free trade agreement. For decades, many people said it couldn't be done. But tonight, that deal gets signed," New Zealand Prime Minister Christopher Luxon posted on X on Sunday, setting the stage for a landmark India-New Zealand Free Trade Agreement to be signed on Monday, April 27.

"It means more jobs on farms and orchards, it means more money coming into local communities, and it means more opportunities for your family to get ahead," he said, highlighting the economic and social benefits for Kiwi communities.

The announcement was confirmed by Union Commerce and Industry Minister Piyush Goyal during his visit to Agra with New Zealand's Minister for Trade and Investment Todd McClay.

How will the India–New Zealand FTA boost market access?

"On the bilateral trade agreement between India and New Zealand... after many years of discussions... it is going to be signed tomorrow," Goyal said.

The FTA is expected to significantly improve market access for Indian goods, with approximately 70% of exports to New Zealand entering duty-free.

Goyal emphasised that the deal will open fresh export opportunities for traditional and MSME-driven sectors, particularly in leather, handloom and handicrafts.

"In a few months, it will be a means of increasing trade between India and New Zealand," he said, underlining its role in deepening economic engagement and strengthening bilateral ties.

McClay, who joined Goyal in Agra for industry engagements, called the bilateral relationship the strongest he has ever known.

"We, as the government of New Zealand, have said that we want to make our relationship with India and its government a strategic priority... We have a shared history, and we also know that we need to keep working on that," he told ANI.

He expressed optimism about increased connectivity, saying direct flights between India and New Zealand could soon become a reality, along with greater tourism flows.

(With inputs from ANI)