India, New Zealand target Rs35,000 crore trade by 2030

India and New Zealand have elevated their bilateral relationship to a Strategic Partnership and set an ambitious target of doubling two-way trade in goods and services to around Rs35,000 crore (NZ$7 billion) by 2030, marking a significant expansion of economic, strategic and defence cooperation following the signing of the Free Trade Agreement (FTA).
According to media reports,the announcement came after wide-ranging talks between Prime Minister Narendra Modi and his New Zealand counterpart Christopher Luxon in Auckland during the first visit by an Indian Prime Minister to New Zealand in four decades. The two leaders also unveiled the India-New Zealand Strategic Partnership: Roadmap to 2030 and announced 18 outcomes, including 10 agreements spanning trade, defence, agriculture, digital payments, maritime cooperation and innovation.

This has been a great year for the India-New Zealand partnership. Earlier this year, our nations concluded a Free Trade Agreement in record time and now, we have elevated our ties to a Strategic Partnership. Next up, we wish to double bilateral trade by 2030! https://t.co/IyR5qpUt2X

— Narendra Modi (@narendramodi) July 11, 2026

Describing the move as a new chapter in bilateral ties, Modi said the two democracies were committed to translating shared aspirations into tangible outcomes."In today's meeting, we have taken the historic decision to elevate our cooperation to the level of a Strategic Partnership. Under this, we will move ahead with clear goals and solid results in every field," he said.Luxon termed India one of New Zealand's most important long-term partners, expressing confidence that the Roadmap to 2030 would unlock new opportunities in trade, investment, technology and regional security.
FTA, investment and digital cooperation
The two leaders agreed to work towards bringing the recently signed FTA into force at the earliest, saying the agreement would serve as the cornerstone for achieving the bilateral trade target by 2030. Modi noted that trade between the two countries has already grown by more than 50 per cent over the past three years."With trade, we are preparing the blueprint for trust, technology and talent. We are confident that in the next five years, the FTA will be a strong foundation to double our trade," Modi said.
He also welcomed New Zealand's proposed US$20-billion investment commitment in India, saying it would create new opportunities for Kiwi companies to participate in India's growth story.According to Rubix Data Sciences, merchandise trade between the two countries grew at a compound annual growth rate of 8 per cent between FY22 and FY26 to reach US$1.16 billion. However, India's trade balance slipped into a US$23-million deficit in FY26 as imports outpaced exports.Beyond trade, both countries identified fintech, agriculture, dairy, food processing, healthcare and traditional medicine as key sectors for future collaboration. Modi said India and New Zealand are working to integrate India's Unified Payments Interface (UPI) with New Zealand's payment ecosystem, aimed at facilitating faster and more seamless digital transactions.
Defence, maritime security key pillars
The Strategic Partnership places renewed emphasis on defence and maritime cooperation, with both countries signing agreements on reciprocal logistics support, hydrography and nautical cartography. They also agreed to institutionalise an annual Maritime Security Dialogue, expand naval exercises and deepen cooperation on counter-terrorism, cyber security and transnational crime.Highlighting the importance of maritime collaboration in the Indo-Pacific, Modi said, "As two maritime nations, our close cooperation lends new strength to the Indo-Pacific, and our ties can infuse fresh energy into achieving our shared goals of peace."The leaders reaffirmed their commitment to a free, open and rules-based Indo-Pacific, stressing the importance of freedom of navigation, respect for international law and uninterrupted global commerce.