UPSC-Relevant News Items

1. India and New Zealand conclude FTA talks, aiming to double bilateral trade and secure $20 bn investment.

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Summary:

• • India and New Zealand concluded negotiations for a Free Trade Agreement (FTA), targeting a doubling of bilateral trade from the current $1.3 billion level within the next five years.
• • The agreement includes a commitment from New Zealand to invest $20 billion in India over 15 years and establishes a visa pathway for 5,000 Indian professionals.
• • NZ offers zero-duty market access on 100% of India’s exports, while India liberalized tariffs on 70% of lines, notably keeping dairy products in the exclusion list.

Additional Facts:

• • The Ministry of Commerce and Industry's Department of Commerce serves as the nodal institutional mechanism responsible for negotiating, drafting, and implementing Free Trade Agreements (FTAs) under the overarching Foreign Trade Policy (FTP).
• • Modern FTAs, such as the India-NZ deal, typically cover not only trade in goods but also trade in services, intellectual property rights (IPR), and dispute settlement mechanisms.

Linkage with UPSC course:

• • GS Mains (GS-3):
• • • Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
• • • Bilateral, regional, and global groupings and agreements involving India and/or affecting India’s interests.

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