India-NZ FTA to take effect by year-end

New Zealand's Minister for Trade and Investment Todd McClay announced that the India-New Zealand Free Trade Agreement (FTA) is expected to come into force before the end of the year. The pact, negotiated in nine months, will provide zero-tariff access for Indian exports to New Zealand from day one and reduce tariffs on 90-95% of New Zealand's exports over seven to eight years. The FTA aims to achieve a NZ $7 billion bilateral trade target by 2030. Direct flights between India and New Zealand are expected within one to two years, with Tata Sons — Air India and New Zealand cooperating. The agreement has passed its first reading in the New Zealand — New Zealand Parliament by 93 votes to 26. During Prime Minister Narendra Modi's recent visit to New Zealand, the relationship was upgraded to a Strategic Partnership, with 16 declarations signed. A priority desk for New Zealand investments in India has been established. Future cooperation areas include critical minerals, security, advanced manufacturing, and space technology.