New Zealand commits $20b under India FTA

New Delhi, New Zealand has committed to invest USD 20 billion in India over the next 15 years under the free trade agreement between the two countries, an official statement said on Monday. The commitment is in line with a similar trade pact that India implemented with the four-nation European bloc EFTA (European Free Trade Association) in October this year. Under that agreement, EFTA has committed to invest USD 100 billion in 15 years. Both the countries have announced the conclusion of the negotiations. It is likely to be signed in the next three months and will be implemented after that as it requires approval from New Zealand. "New Zealand has committed to facilitate investments of USD 20 billion into India over the next fifteen years, thereby supporting manufacturing, infrastructure, services, innovation and employment under India's Make in India vision," the commerce ministry said. Commerce and Industry Minister Piyush Goyal said the USD 20 billion foreign direct investment (FDI) commitment is backed by a rebalancing mechanism to suspend benefits if it is not fulfilled. He also said that this will include only FDI and not FPI/FIIs (foreign portfolio or institutional investors). "We will get a long term sustainable capital. FPI and FIIs are not included in the USD 20 billion investment commitment," he told reporters here. India has received USD 88.24 during April 2000 and September 2025. India's chief negotiator and joint secretary in the ministry Petal Dhillon said that investments can come in areas such as manufacturing and infrastructure. "Rs 1.80 lakh crore commitment from a country," which has invested small amounts of FDI into India so far "is a big gain for India," Goyal said.