New Zealand Trade Minister Tim Groser and Indian Commerce Minister Sri Anand Sharma have announced that talks are underway to negotiate a free trade agreement between the two countries.
Attending a WTO Trade Minister's meeting in Switzerland alongside Mr Sharma, Mr Groser welcomed the Indian Government's confirmation that it will entertain discussions with New Zealand.
'A free trade agreement with India offers great promise for New Zealand businesses. India is already one of our fastest growing markets, with New Zealand exports having tripled over the last decade,' Mr Groser said.
'Our negotiators will target the currently high barriers facing New Zealand exporters to India so that trade can further flourish.'
Mr Groser also emphasised how important the Indian market is to his own country, with growth there tipped to hit 8 per cent this year, Scoop reported.
'India has a population of over one billion people. By 2025, India will almost certainly be the third largest economy in the world.
'I expect negotiations to start soon and am confident we can deliver a high quality agreement with significant benefits to New Zealand exporters,' Mr Groser said.
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