NEW DELHI — Indian Prime Minister Narendra Modi and his New Zealand counterpart, Christopher Luxon, met Monday searching for to deepen their protection and financial ties, a day after the international locations introduced the revival of negotiations for a free commerce settlement.
Modi and Luxon met in New Delhi and signed agreements on enhancing cooperation in protection, meals processing, prescription drugs, renewable power and significant minerals.
Luxon mentioned he held “extremely productive conferences” with Modi and different Indian leaders that can enhance ties between India and New Zealand. The protection relationship consists of joint navy coaching, he mentioned.
“New Zealand is dedicated to doing extra with India throughout a variety of areas — protection and safety, commerce and economics, people-to-people ties, schooling, tourism, sports activities and tradition,” Luxon mentioned at joint press convention with Modi.
Luxon was accompanied by enterprise leaders and a number of other parliamentarians on his five-day go to to India.
India and New Zealand on Sunday agreed to revive free commerce negotiations which have been stalled for greater than 10 years.
The announcement was made after discussions between New Zealand Commerce and Funding Minister Todd McClay and his Indian counterpart, Piyush Goyal. It follows India’s latest efforts to dealer commerce deal agreements with different nations after U.S. President Donald Trump’s decision to impose reciprocal tariffs on imported items from countries including India.
India and the European Union final month agreed to finalize a long-pending free trade agreement by the top of this 12 months. An identical commerce deal between India and the UK can be within the works.
India’s Commerce Ministry mentioned the free commerce deal between India and New Zealand goals to “obtain balanced outcomes that improve supply-chain integration and enhance market entry.” It didn’t provide different particulars.
Luxon in an announcement Sunday mentioned: “It’s by way of commerce that we are able to enhance the economies of each our international locations, offering extra jobs and better incomes for Kiwis and Indians.”
The bilateral commerce between India and New Zealand stood at $1.7 billion in 2023-24 monetary 12 months.
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This story corrects bilateral commerce figures.
