New Delhi: A new chapter is about to be added to India-New Zealand relations. Following the signing of a historic Free Trade Agreement (FTA), Prime Minister Narendra Modi will embark on an official visit to New Zealand on July 10. New Zealand Prime Minister Christopher Luxon confirmed this, stating that this will be the first official visit by an Indian Prime Minister to the country in 40 years.
When will PM Modi visit New Zealand?
PM Modi will arrive in Auckland on July 10 and return to India the following day. New Zealand Prime Minister Christopher Luxon described the visit as “historic” for relations between the two countries.
“Prime Minister Modi’s visit is historic, with this being the first to New Zealand by an Indian Prime Minister in 40 years,” Luxon said in a statement.
What did New Zealand Prime Minister say?
In his statement Luxon wrote, “India is one of the world’s largest and fastest-growing economies, and a country of enormous importance to New Zealand’s economic prosperity. We are taking the two countries’ relationship to the next level with our New Zealand-India Free Trade Agreement, signed in April, which will deliver more jobs, higher exports and stronger economic growth for New Zealand.”
“This will unlock new opportunities to grow our goods and services exports into a market of 1.4 billion people – bringing more money into Kiwi communities, creating jobs and lifting wages.”
What about the Free Trade Agreement?
India and New Zealand signed a historic Free Trade Agreement (FTA) in New Delhi on April 27 of this year, that will eliminate 95 per cent of tariffs on goods from New Zealand.
Under a free trade agreement, New Zealand has decided to allow Indian products to enter its market 100 per cent duty-free. This is expected to significantly benefit Indian industries such as textiles, leather, footwear, engineering goods, gems, and jewelry.
India has agreed to reduce or phase out tariffs on approximately 70 per cent of New Zealand’s products. However, India has excluded dairy and some sensitive agricultural products from this agreement to protect the interests of domestic farmers and the dairy industry.
A major part of the agreement also involves investment and employment. New Zealand has committed to promoting up to $20 billion in investment in India over the next 15 years. Special visa arrangements have also been established for Indian IT professionals, engineers, healthcare workers, yoga instructors, AYUSH experts, chefs, and music teachers.
Indian students will also benefit significantly from this agreement. Student number limits have been removed, they are allowed to work while studying, and work visas are available for three to four years after completing their studies.
