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India and New Zealand are advancing discussions on a bilateral trade agreement aimed at building a sector-specific trade deal that strengthens economic ties without compromising on sensitive issues according to Union Minister of Commerce and Industry, Piyush Goyal.
Goyal shared insights into the growing opportunities in India's aviation sector during his meeting with Nikhil Ravishankar, CEO of Air New Zealand. The meeting took place en route to Rotorua during Goyal's official visit to New Zealand for the fourth round of Free Trade Agreement (FTA) discussions between the two nations. In a social media post, the Minister said, "Delighted to meet Nikhil Ravishankar, CEO of Air New Zealand, en route to Rotorua. Talked about the airline's impressive role in regional connectivity. Also discussed India's expanding aviation sector and the exciting new opportunities that it offers." Air New Zealand is the flag carrier of New Zealand, operating a global network of domestic and international passenger and cargo services. India's Air India and Air New Zealand are working to launch direct flights by 2028, which is expected to boost business ties and enhance people-to-people connections. Piyush Goyal is on an official visit to New Zealand to participate in the 4th round of FTA talks between India and New Zealand. The discussions, which began on November 3 in Auckland, mark a significant step toward deepening bilateral trade relations. Speaking to ANI, the Union Minister emphasized that the talks were being conducted in a spirit of warmth and mutual respect. "I feel that with a lot of enthusiasm and respect, my team, our India's delegation and I were welcomed here, and in reality, the relationship between India and New Zealand should increase. The basic principle of both the countries is that if we increase mutual relations, it is beneficial for both the countries," Goyal said. The minister further mentioned that the discussions were "very good" and reflected the strong intent on both sides to deepen ties. "The way [New Zealand] Prime Minister Luxon spent so much time with me and the ministers and all the people of India who live here, the people of India's roots, I have spent a lot of time with them, about 45 minutes. It shows that the people of India get a lot of respect here; they have respect and importance," he said. Goyal also highlighted that the proposed Free Trade Agreement (FTA) would be framed keeping in mind the interests of both countries. The bilateral trade relationship between India and New Zealand has seen a sharp upward trajectory in recent years. Total merchandise trade between the two countries has reached USD 1.3 billion in the financial year 2024-25, registering a strong growth of 48.6 per cent over the previous financial year. This shows the growing potential of the India-New Zealand Economic Partnership. The FTA is expected to further elevate trade and investment potential, improve supply chain integration, and foster a predictable and transformative trading environment for businesses on both sides. India's key imports from New Zealand include wool, iron and steel, fruit and nuts, and aluminium. On the other hand, India's major exports to New Zealand comprise pharmaceuticals, machinery, made-up textile articles, and precious stones and metals. (ANI)
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