India, New Zealand conclude free trade agreement negotiations

New Delhi: New Zealand Prime Minister Christopher Luxon on Monday said the negotiations for a free trade agreement with India have been concluded.

The free trade agreement (FTA) reduces or removes tariffs on 95 per cent of our exports to India, he said in a social media post.

It's forecast that New Zealand exports to India could increase from USD 1.1 billion to USD 1.3 billion per year over the coming two decades, he said.

"I've just spoken with India's Prime Minister Narendra Modi following the conclusion of the NZ-India Free Trade Agreement," he added.

"The agreement builds on the strong friendship between our two countries. India is one of the fastest-growing economies in the world, and this gives Kiwi businesses access to 1.4 billion Indian consumers," the Prime Minister said.