India, New Zealand announce new free trade agreement

The FTA will enable New Zealand exporters to easily reach the world's biggest population with reduced tariffs on 95% of New Zealand's exports.

Prime Minister Narendra Modi with New Zealand Prime Minister Christopher Luxon at Hyderabad House in Delhi | Praveen Jain | ThePrint

Sydney: New Zealand and India struck a free trade agreement, New Zealand said on Monday, making it easier for its exporters to reach the world’s biggest population and an economy forecast to be worth NZ$12 trillion ($7 trillion) by 2030.

The agreement cuts or reduces tariffs on 95% of New Zealand’s exports to India with more than half of products to be duty free on day one of the pact, improving access to India’s rapidly expanding middle class, the New Zealand government said.

(Reporting by Byron Kaye; Editing by Christian Schmollinger)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.