Report: NZ-India FTA value will emerge over time
With thanks to NZIBF member Westpac for this excellent collaboration, featuring the analysis of Darren Gibbs and Kelly Eckhold, this new report shows that the New Zealand–India FTA will deliver meaningful gains from entry into force—but its greatest value is likely to emerge over time.
That is the central finding of new research released today by the New Zealand International Business Forum and Westpac Economics.
The agreement creates immediate opportunities for sectors including sheep meat, forestry, kiwifruit, apples and wine. More importantly, it gives New Zealand businesses a stronger platform from which to build relationships, develop new products and establish a sustained presence in one of the world’s fastest-growing major economies.
Government modelling estimates the FTA could lift New Zealand’s annual GDP by around $380 million and exports to India by $836 million by 2036. Our report considers these estimates conservative, as they do not capture all the wider benefits likely to accumulate as India’s economy grows and the relationship deepens.
The FTA will not transform trade overnight, and meaningful dairy access remains unfinished business. But it gives New Zealand a stronger foothold in one of the defining economic growth stories of the coming decades—and more options in an increasingly uncertain global environment.
With the implementing legislation now progressing through Parliament, completing the process and bringing the agreement into force as soon as possible will give businesses the certainty to begin turning these opportunities into trade, investment and jobs.
Have a read for some good quality economic data, insights and more advice👇
