New Delhi, April 24 (IANS) Commerce and Industry Minister Piyush Goyal on Friday welcomed Todd McClay, Minister for Trade and Investment of New Zealand to India, ahead of the free trade agreement (FTA) signing between the two countries on April 27.
In a post on X, the minister said: “Delighted to welcome Mr. Todd McClay, Minister for Trade & Investment, New Zealand, to India, as we begin a new chapter in India-New Zealand economic ties”.
He further stated that as we approach the India-NZ FTA signing on April 27, 2026, “his visit marks a defining moment in our bilateral journey, reflecting the trust, shared values, and common vision that underpin our partnership for sustainable economic growth, driving prosperity for both our nations”.
Both sides are expected to benefit from expanded trade ties and improved market access, New Zealand Prime Minister Christopher Luxon said earlier in the day.
Taking to the social media platform X, Luxon said, "We will sign a Free Trade Agreement with India on Monday."
In a video message, Luxon said the agreement would improve market access for New Zealand exporters, particularly manufacturers of marine jet systems used in boats and exported to over 70 countries.
He added that the deal would help reduce trade barriers and strengthen commercial engagement between the two countries.
He also noted that certain exporters currently face tariffs while accessing the Indian market, and said the agreement would gradually ease such duties, improving competitiveness and supporting higher trade flows.
Luxon said the FTA would support increased business activity, employment opportunities and economic growth in New Zealand, while also strengthening bilateral trade linkages with India.
He added that the agreement would bring 'more jobs, higher wages and more opportunities,' highlighting the broader economic impact of the deal.
Once signed, the FTA is expected to expand trade and investment ties between the two countries and enhance export opportunities on both sides in a large and growing global market environment.
—IANS
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