Politics
In the middle of the Indias Trade Blitz, New Zealand joins the race for an agreement
Luxon announced Tuesday that the two nations were impatient to finalize the pact long delayed after meeting his Indian counterpart in Delhi.
The bilateral trade between India and New Zealand increased by more than 30% over a year, reaching 1.2 billion US dollars in 2024, according to the Department of Trade India. A free trade agreement could strengthen collaboration in sectors such as agriculture, aerospace, pharmaceutical products and renewable energies. The Indian Minister of Commerce, Piyush Goyal, predicted that trade between the two countries could increase tenfold during the next decade.
However, previous negotiations were hampered by a prudent India position in its dairy sector, a key area of discord. Soumya Bhowmick, a member of the Observer's Research Foundation Reading Group, explained that India protection measures aimed to protect domestic farmers from foreign competition.
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Sources 2/ https://www.scmp.com/week-asia/economics/article/3303382/amid-indias-trade-blitz-new-zealand-joins-race-deal The mention sources can contact us to remove/changing this article |
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