Global Economic Alliances and Trade Policy Adjustments

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During bilateral engagements in Auckland, Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon committed to fast-tracking the implementation of the India-New Zealand Free Trade Agreement (FTA). Signed on April 27, this landmark deal eliminates tariffs on 100% of India’s exports and 95% of New Zealand’s imports, aiming to double bilateral trade to NZ$7 billion (₹35,000 crore) by 2030 across sectors like infrastructure, clean energy, and agritech. Meanwhile, India raised strong concerns with the United States Trade Representative (USTR) regarding a proposed 12.5% tariff linked to a Section 301 forced labor investigation, arguing that the probe relies on flawed methodology without country-specific evidence. On the domestic front, Indian farm unions are uniting against the proposed India-US trade deal to protect small farmers, while Kerala’s Chief Minister requested ₹29,500 crore in central assistance for an integrated airport-port logistics gateway. Additionally, Tripura expanded its global footprint by exporting organic produce to Dubai via Lulu Retail, and the Material Recycling Association of India urged the government to abolish the 2.5% duty on aluminum scrap.

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