The a once-in-a-generation pact will give New Zealand access to 1.4 billion people, Prime Minister Christopher Luxon has said

India and New Zealand will ink a trade deal agreement on Monday, the island nation's prime minister, Christopher Luxon, has said.

In a social media post on Sunday, Luxon said the proposed pact wasinitiateda year ago when he met Indian Prime Minister Narendra Modi in New Delhi.

He described the pact as a "once-in-a-generation" deal that will significantly expand access for New Zealand exporters to India's 1.4 billion-strong market.

"It means more jobs on farms and orchards, it means more money coming into local communities, and it means more opportunities for your family to get ahead," Luxon said.

On April 23, the island nation's prime minister shared a video highlighting the expected benefits of the free trade agreement.

The FTA betweenIndia and New Zealandwill provide huge opportunities for domestic firms, Indian Commerce Minister Piyush Goyal said.

Goyal, who also held discussions with visiting New Zealand Trade and Investment Minister Todd McClay, said the pact aims to double bilateral trade and facilitate duty-free access to the island nation's markets for Indian companies.

New Zealand has committed to invest $20 billion in India over the next 15 years to boost manufacturing, infrastructure, services, innovation, and employment.

McClay said that India is a strategic priority for Wellington and urged businesses to actively pursue joint ventures and investment in India.

Trade between India and New Zealand stood at $2.4 billion in 2024, with services alone accounting for $1.24 billion, led by travel, IT, and business services.

India signed tradedealswith the UK and Oman in 2025 and with the European Union in January.

New Delhi now has free trade agreements with38 countries, and discussions are in progress tofinalizea pact with the US.

Earlier in April, China said it had become India's largest trading partner in the 2025-26 financial year,overtaking the US. Washington was New Delhi's largest trading partner for four years in a row until 2024-25.

(RT.com)