New Delhi [India], December 23 (ANI): The Ministry of External Affairs lauded the Free Trade Agreement with New Zealand, calling it a 'landmark deal' that would deliver 'major economic gains' and create job opportunities.

MEA Spokesperson Randhir Jaiswal said that the deal will strengthen market access and provide long-term growth to both nations.

'India and New Zealand conclude negotiations on a comprehensive Free Trade Agreement covering goods, services and investment. This landmark deal will bring major economic gains, create opportunities and jobs for the people, especially the youth, strengthen market access, and drive long-term growth for people of both countries,' Jaiswal said in a statement on X.

https://x.com/MEAIndia/status/2003056477301526979?s=20

Earlier on Monday, Prime Minister Narendra Modi held a telephone conversation with the Prime Minister of New Zealand, Christopher Luxon, as the two leaders jointly announced a landmark India-New Zealand Free Trade Agreement. The leaders agreed that the FTA would serve as a catalyst for greater trade, investment, innovation and shared opportunities between both countries.

In an X post, PM Modi wrote, 'My friend PM Christopher Luxon and I had a very good conversation a short while ago following the conclusion of the landmark India-New Zealand Free Trade Agreement. Concluded in just nine months, this historic milestone reflects a strong political will and shared ambition to deepen economic ties between our two countries.'

The Free Trade Agreement includes zero duty on 100 per cent of goods exports upon entry into force; tariff elimination on 8,284 tariff lines, expanding market access for Indian products; and new growth avenues across IT-ITES, finance, education, tourism and audio-visual services

New Zealand has committed to facilitating investments of USD 20 billion into India over the next fifteen years, thereby supporting manufacturing, infrastructure, services, innovation and employment under India's Make in India vision.

External Affairs Minister S Jaishankar also described the India-New Zealand Free Trade Agreement (FTA) as a landmark step that will significantly boost trade, investment and economic collaboration between the two countries.

In a post on X, Jaishankar said the agreement marked a new phase in bilateral ties.

'A landmark in India-New Zealand ties. The India-NZ FTA, concluded in record time under the guidance of PM Narendra Modi and PM Christopher Luxon, places our partnership on an accelerated growth trajectory. It will surely boost trade, investment and economic collaboration across sectors,' he wrote. (ANI)