India, New Zealand agree to deepen ties, restart free trade talks
Source: dairynews.today
India and New Zealand have agreed to deepen their security and economic ties, and restart talks for a long-stalled free trade agreement.
Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon have announced plans to strengthen bilateral relations during Luxon's five-day visit to India.
This visit marks the largest delegation to ever accompany a Kiwi Premier on a foreign trip, emphasizing a concentrated effort on enhancing cooperative ties in defense, education, and sports. Modi and Luxon signed agreements in New Delhi to institutionalize their defense partnerships with joint exercises and training as part of their defense ties.
Additionally, the revival of long-stalled free trade negotiations was a primary focus, aiming at mutual benefits and increased cooperation in sectors like dairy, food processing, and pharmaceuticals. Currently, bilateral trade between the nations is valued at approximately $1.7 billion for the 2023-24 financial year.
Modi expressed the importance of trade for boosting both economies, while Luxon highlighted India's role as a significant source of skilled migrants and the third-largest ethnic group in New Zealand.
The efforts to rekindle trade deals come in the wake of US President Donald Trump's decision to impose reciprocal tariffs on imported goods, including those from India.
As such, strengthening ties with New Zealand aligns with India’s Indo-Pacific strategy and its aim to widen its trade relations globally, according to Dr. Udai Bhanu Singh, a former senior researcher at the Institute of Defence Studies and Analyses.
This visit marks the largest delegation to ever accompany a Kiwi Premier on a foreign trip, emphasizing a concentrated effort on enhancing cooperative ties in defense, education, and sports. Modi and Luxon signed agreements in New Delhi to institutionalize their defense partnerships with joint exercises and training as part of their defense ties.
Additionally, the revival of long-stalled free trade negotiations was a primary focus, aiming at mutual benefits and increased cooperation in sectors like dairy, food processing, and pharmaceuticals. Currently, bilateral trade between the nations is valued at approximately $1.7 billion for the 2023-24 financial year.
Modi expressed the importance of trade for boosting both economies, while Luxon highlighted India's role as a significant source of skilled migrants and the third-largest ethnic group in New Zealand.
The efforts to rekindle trade deals come in the wake of US President Donald Trump's decision to impose reciprocal tariffs on imported goods, including those from India.
As such, strengthening ties with New Zealand aligns with India’s Indo-Pacific strategy and its aim to widen its trade relations globally, according to Dr. Udai Bhanu Singh, a former senior researcher at the Institute of Defence Studies and Analyses.
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