It might additionally present larger predictability and market entry for companies in each international locations, it stated.
Commerce and Trade Minister Piyush Goyal was right here to provide an impetus to the commerce pact negotiations along with his New Zealand counterpart Todd McClay.
The fourth spherical of negotiations on the India-New Zealand Free Commerce Settlement (FTA) concluded on November 7, in Auckland and Rotorua.
The ministers “acknowledged the regular progress made throughout this spherical and reaffirmed their dedication to work in direction of a contemporary, complete, and future-ready FTA,” it stated.
Each delegations held detailed engagements throughout key tracks, together with commerce in items, commerce in companies, financial and commerce cooperation, and guidelines of origin. “The continuing discussions replicate the shared resolve of each nations to expedite the method and work in direction of an early, balanced, and mutually advantageous conclusion of the settlement,” it stated. India's bilateral merchandise commerce with New Zealand stood at USD 1.3 billion in 2024-25, marking a year-on-year progress of almost 49 per cent.
“The proposed FTA is anticipated to unlock additional potential in sectors reminiscent of agriculture, meals processing, renewable power, prescribed drugs, training, and companies, creating new alternatives for companies and customers alike,” it added.
