New Zealand PM: 57% of Exports to India Tariff-Free from Day One
New Zealand Prime Minister Christopher Luxon announced on Thursday that 57% of his country's exports to India will be tariff-free from the start of a proposed trade pact. The announcement came a day before Indian Prime Minister Narendra Modi is scheduled to visit New Zealand.
In a post on social media, Luxon welcomed the agreement, stating that New Zealand businesses are set to benefit significantly. The trade deal is part of a broader effort to strengthen economic ties between the two nations.
Modi will arrive in Auckland on July 10 for a one-day visit, marking the first trip by an Indian prime minister to New Zealand in 40 years. His visit follows the signing of a free trade agreement in April 2026, which is expected to eliminate 95% of tariffs on goods from New Zealand.
Bilateral merchandise trade between India and New Zealand stood at $1.3 billion in 2024-25, while total trade in goods and services reached about $2.4 billion in 2024. Services trade alone accounted for $1.24 billion, led by sectors such as travel, information technology, and business services.
Discussions between Modi and Luxon are expected to cover trade, investment, maritime security, education, technology, tourism, sport, and global issues. A statement from New Zealand's government said the visit reflects the growing momentum in bilateral relations.
Ahead of his departure, Modi stated that his visits to Indonesia, Australia, and New Zealand would further India's Act East Policy and its vision for a free and open Indo-Pacific, known as MAHASAGAR (Mutual and Holistic Advancement for Security Across the Regions).
