India and New Zealand Set ₹35,000 Crore Trade Target by 2030

Key facts

• India and New Zealand have set a target to increase trade in goods and services to ₹35,000 crore (US$4 billion) by 2030.
• Bilateral trade was valued at US$2 billion in 2024, with Indian exports of goods and services accounting for US$1 billion.
• New Zealand has committed an investment of US$20 billion in India.
• The two nations signed a Free Trade Agreement (FTA) to double annual trade in goods and services.
• India and New Zealand elevated their relations to a strategic partnership.
• New Zealand announced it will join the Global Biofuels Alliance.
• New Zealand nominated maritime security as its priority pillar under the India-led Indo-Pacific Oceans Initiative (IPOI).
• A memorandum of cooperation was signed between the National Disaster Management Authority (NDMA) and the National Emergency Management Agency of New Zealand for disaster risk management, earthquake resilience, tsunami preparedness, and coastal hazard mitigation.
• The National Centre for Polar and Ocean Research (NCPOR) in Goa and the University of Canterbury signed an MoU for collaboration in Antarctic research and scientific activities.
• The National Institute of Food Technology, Entrepreneurship and Management (NIFTEM), Kundli, and Massey University signed an MoU to boost cooperation in research, academic exchanges, and student mobility.
• The two countries concluded agreements on hydrography and nautical cartography, tourism, and a joint action plan on sport.