Prime Minister Narendra Modi on Tuesday said that India-New Zealand Free Trade Agreement (FTA) is a historic milestone, as it is India's first women-led FTA where almost the entire negotiating team comprised women.
PM Modi shared an article written by Union Commerce and Industry Minister Piyush Goyal, which explains that India's FTAs today go well beyond tariff reductions, forming part of a broader mission to strengthen the economy and improve the lives of millions.
"He highlights that the India-New Zealand FTA is a historic milestone as it is India's first women-led FTA. Almost the entire negotiating team comprised women", the Prime Minister stated.
Responding to a post by Goyal on X, the Prime Minister said that "In this insightful article, Union Minister Shri @PiyushGoyal explains that India's FTAs today go well beyond tariff reductions, forming part of a broader mission to strengthen the economy and improve the lives of millions".
The FTA reflects a defining moment in India's trade diplomacy, opening new avenues for comprehensive economic cooperation. By securing improved market access for Indian goods, expanding opportunities in services and mobility, and deepening collaboration in agriculture, investment and emerging sectors, the Agreement delivers tangible and wide-ranging benefits across the economy.
The FTA eliminates duty on 100 per cent of Indian exports, along with a $20 billion investment commitment over 15 years to strengthen long-term economic and strategic cooperation. New Zealand's market access offer covers immediate elimination of duties (zero duty) on 100 per cent of tariff lines of New Zealand (8,284 tariff lines), from "Entry into Force" (EIF).
From farmers and MSMEs to students and skilled professionals, the gains from this Agreement are expected to be broad-based, reinforcing India's position as a trusted, forward-looking global partner and advancing the vision of a globally integrated Viksit Bharat 2047, according to the government.
(With inputs from IANS)
