New Zealand Trade and Investment Minister Todd McClay said that India and New Zealand are likely to double their bilateral trade within a few years as both countries move toward finalizing a high-quality Free Trade Agreement (FTA). He explained that the agreement is designed to meet New Zealand consumer demand for high-quality goods and services, many of which are available from India. He also said the New Zealand government plans to support up to USD 20 billion in investment into India over the next 15 years.

To speed up investment approvals, India has agreed to create a dedicated “single desk” for New Zealand investors, which McClay said will make the process faster and easier. He added that from the day the FTA comes into effect, Indian exports to New Zealand will become fully tariff-free. He cited an example of a New Zealand bedding company investing USD 200 million in India to manufacture products for both the Indian and regional markets.

McClay noted that India currently accounts for only about 1% of New Zealand’s global trade and is not yet among its top 20 trading partners, but he expects strong growth in both directions, with India becoming a much more important partner. He also described the FTA as a source of stability amid global trade uncertainty, encouraging businesses to invest with confidence due to the predictable framework it provides.

Highlighting growing cooperation, he mentioned a partnership between a New Zealand fintech firm and Axis Bank, which will bring technology to improve banking services in India while creating local employment opportunities. Beyond trade, he emphasized the importance of cultural, sporting, and people-to-people ties, calling the agreement a modern step forward in a long-standing relationship. He said the deal reflects mutual trust and commitment, offering certainty in an uncertain global environment and marking a major milestone in India–New Zealand relations.