Wellington, Jan 6 (PTI) New Zealand Prime Minister Christopher Luxon has said that the Free Trade Agreement with India will boost exports and open doors for farmers, growers, and businesses.

India and New Zealand have recently finalised the FTA, expected to take effect in seven to eight months. The deal aims to enhance market access and promote investment flows, including a FDI commitment of USD 20 billion over a period of 15 years.

"We've concluded a Free Trade Agreement with India. This will open doors for New Zealand farmers, growers, and businesses - boosting exports, creating jobs, and lifting incomes to help all Kiwis get ahead," Luxon said in a post on social media on Tuesday.

Prime Minister Narendra Modi and Luxon held a telephone conversation last month before announcing the successful conclusion of the trade deal.

This is India's third such free-trade agreement in months, following a similar pact with the UK in July and another with Oman in December, which will give India more temporary employment visas, easier access for pharmaceuticals and medical devices.

Describing the FTA as a "landmark deal" with the world's fastest-growing big economy, Luxon said it would create opportunities for jobs, exports and growth for all New Zealanders.

Noting that the engagement with India was "intensive", he said that his government has worked extremely hard to prioritise and invest in a relationship with India, since day one.

The result of this engagement is a "high-quality" trade agreement, he said in a video posted on his social media handle.

Describing India as a "trusted partner", he said the trade deal will deliver deep and lasting benefits for New Zealand.

Negotiations for a trade deal initiated during Luxon’s visit to India in March 2025, the two leaders agreed on the conclusion of the FTA.

The pact would help Indian exporters, reeling under the impact of 50 per cent tariffs imposed by the Trump administration on Indian goods, diversify shipments in the Oceania region. PTI SKS ZH ZH

FTA with India to expand market access and a USD 20 billion FDI commitment to boost exports and investment. A concluded Free Trade Agreement between New Zealand and India creates a bilateral framework to expand market access and stimulate investment, including a USD 20 billion FDI commitment over 15 years, aimed at boosting exports, supporting farmers and businesses, and enabling trade diversification.