Investment of Rs 1.72 Lakh Crore: India and New Zealand Sign 10 Major Agreements
PM Narendra Modi's visit to New Zealand resulted in 18 major decisions and 10 special agreements. India and New Zealand have set a target to boost bilateral trade to **Rs 35,000 crore by 2030**. India will supply chemicals, processed food, agricultural products, and other goods, while New Zealand will export kiwi, other fruits, and critical minerals to India at cheaper prices.
The deal was signed during a bilateral meeting between PM Modi and New Zealand Prime Minister Christopher Luxon in Auckland. PM Modi highlighted that the Free Trade Agreement (FTA) was finalized in a record 9 months. Under the FTA, most goods exported from India to New Zealand will attract zero tax, and goods arriving from New Zealand will also face minimal or zero taxes. Notably, under this agreement, New Zealand will invest **Rs 1.72 lakh crore ($20 billion)** in India over the next 15 years, significantly aiding India's development.
### 10 Key Points of the India-New Zealand Agreement
* **2030 Roadmap:** A roadmap will be prepared to enhance cooperation by 2030, focusing on trade, defense, education, agriculture, sports, culture, and tourism to reach a trade target of Rs 35,000 crore.
* **Defense and Maritime:** Increased cooperation in defense and maritime routes, including joint exercises, disaster relief, strengthened maritime surveillance, and the sharing of naval charts and data.
* **Military & Anti-Terrorism:** Both armies will provide mutual logistical support when needed. A joint working group will be formed to combat terrorism, alongside an intelligence-sharing pact.
* **Agriculture & Dairy:** New technology and expertise in dairy and animal husbandry will be shared, boosting food security and benefiting farmers.
* **Tourism:** An agreement to facilitate easier travel, opening up new employment opportunities in the tourism sector.
* **Sports:** Collaboration in high-performance sports, sports science, and sports medicine. Support will be provided for sports like rugby, rowing, athletics, and golf.
* **Economic Growth:** The Rs 35,000 crore trade target by 2030 aims to massively boost employment, business, and investments.
* **Food Technology:** Enhanced cooperation in food technology and safety, including a new action plan specifically for Kiwi fruit.
* **Zero-Tax Trade & Investment:** New Zealand will invest Rs 1.72 lakh crore over the next 15 years, with the majority of imports and exports between the two nations incurring 'zero' tax.
* **UPI Integration:** An agreement was reached to link India's UPI with New Zealand's fast payment system, making digital transactions seamless.
