New Delhi [India], October 20 (ANI): Auckland-founded property technology company Valocity has secured the biggest deal in its history on the first day of the India-New Zealand Free Trade Agreement (FTA), New Zealand Prime Minister Christopher Luxon said, highlighting the agreement's potential to expand business opportunities and support jobs and incomes in the country.

In a post on X, Luxon said the development demonstrated how New Zealand businesses could benefit from expanded access to international markets under the trade agreement.

'When Kiwi businesses win overseas, Kiwis win at home,' Luxon said.

He added that Valocity had secured the biggest deal in its history on the first day of the trade agreement's implementation, congratulating Carmen and the company's team on the achievement.

'That's what this agreement is about: opening doors so our businesses can grow, and bringing more jobs and higher incomes back home,' Luxon said.

The announcement highlights the potential for businesses in New Zealand to expand their international operations and secure new commercial opportunities as trade ties with India deepen.

Valocity, which was founded in Auckland, operates in the property technology space. However, Luxon's post did not disclose the value of the deal, the identity of the client, the nature of the agreement or the specific market in which the business opportunity was secured.

The development comes as the India-New Zealand FTA begins to take effect, with both countries seeking to strengthen economic engagement and create opportunities for businesses through closer trade relations.

For New Zealand, the agreement is expected to provide a platform for domestic companies to explore opportunities in the Indian market, while the broader objective is to translate international business expansion into economic gains at home.

Luxon's remarks underline the New Zealand government's emphasis on linking overseas commercial success with domestic economic benefits, particularly through employment generation and higher incomes.

The deal secured by Valocity on the agreement's first day provides an early example cited by the New Zealand Prime Minister of the commercial opportunities associated with the trade pact.

Further details about the transaction, including its financial value and expected economic impact, were not provided in the post. (ANI)