India and New Zealand will sign a Free Trade Agreement (FTA) in New Delhi tomorrow, according to Commerce and Industry Minister Piyush Goyal. This is a major step in deepening economic ties between the two nations.
Speaking while visiting the Taj Mahal in Agra with Todd McClay, New Zealand’s Minister for Trade and Investment, Piyush Goyal stated that the deal was completed following years of high-level negotiations and would be signed in front of both leaders. Over the following five years, the FTA seeks to quadruple bilateral trade to $5 billion.
He emphasized the agreement’s economic advantages, stating that it will greatly increase trade prospects and market access for Indian goods. Additionally, he met and complimented local Agra business owners in industries including leather, textiles, handlooms, handicrafts, carpets, and spices.
He stated that Agra will be crucial to India’s future exports and that the expansion of the city’s industrial sector will be aided by improved market access and closer commercial relations with New Zealand.
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