India’s new trade pact with New Zealand combines tariff-free access, visa pathways and investment commitments, reshaping bilateral ties across trade, education and skilled workforce mobility.
Commerce Minister Piyush Goyal held talks with a high-level Israeli delegation on a Free Trade Agreement (FTA) even as Prime Minister Narendra Modi reached the Jewish nation.
Noting that India and Israel are moving forward to sign a Free Trade Agreement (FTA), Azar stated that the ties between the two countries will also be advanced in other sectors like transportation, water, agriculture and academic cooperation.
The India-European Union free trade agreement has come amidst global turbulence triggered by the United States' tariff regime.
The prime minister underlined that this agreement with 27 countries will benefit Indian startups by easing access to funding and innovation ecosystems, while also boosting India’s creative economy in film, gaming, fashion, digital content, music, and design.
Designed as a modern, rules-based trade partnership, the FTA responds to contemporary global challenges while enabling deeper market integration between the world’s 4th and 2nd largest economies.
The India-EU FTA covers trade in goods and services, rules of origin, customs and trade facilitation, trade remedies, and emerging areas such as digital trade and MSMEs.
A total of 9,425 tariff lines have been opened for Indian goods under the India-EU FTA, providing access to a USD 20 trillion market.
Calling the agreement a "bad deal" for New Zealand, Winston Peters, whose New Zealand First is a coalition partner in the National-led government, said his country has given too much away in signing the FTA, particularly on immigration. He said New Zealand has failed to secure enough in return for the country's citizens, including on dairy.
The India-New Zealand FTA will facilitate a "high-quality economic partnership with an aim to promote employment, enable skill mobility, drive trade and investment-led growth, foster innovation for agricultural productivity, and enhance MSME participation to strengthen long-term economic resilience."
