57% of New Zealand exports to India to be tariff-free from day one: PM Christopher Luxon

New Zealand Prime Minister Christopher Luxon has announced that 57% of New Zealand's exports to India will be tariff-free from the first day of the proposed trade agreement, describing it as a major opportunity for Kiwi businesses ahead of Prime Minister Narendra Modi's two-day state visit to New Zealand.

Luxon said the trade pact would significantly expand New Zealand's access to the Indian market, with tariff reductions expected to benefit key export sectors. He highlighted the agreement as a milestone in strengthening economic ties between the two countries and creating new opportunities for businesses.

Prime Minister Modi is scheduled to visit New Zealand from July 10-11, marking the first state visit by an Indian Prime Minister to the country in nearly four decades. During the visit, the two leaders are expected to hold wide-ranging talks covering trade, investment, defence, education and regional cooperation.

The proposed trade agreement is aimed at boosting bilateral commerce and deepening the Comprehensive Strategic Partnership between India and New Zealand. Officials from both countries are expected to discuss ways to enhance collaboration in agriculture, technology, renewable energy and supply chains.

Luxon said the agreement would provide long-term benefits for exporters while reinforcing New Zealand's economic engagement with one of the world's fastest-growing major economies.