India, Dec. 23 -- New Zealand Prime Minister Christopher Luxon on Tuesday hailed the Free Trade Agreement (FTA) concluded with India as "excellent," saying it offers exporters a major opportunity for significant economic gains.

In a post on X, Luxon said the agreement would reduce or eliminate tariffs on 95 per cent of New Zealand's exports to India.

"Based on New Zealand's growth in trade following other FTAs, the potential gain for our exporters and our economy from this agreement is huge," he said.

Luxon noted that trade already supports one in four jobs in New Zealand, adding that the FTA would further strengthen the economy by supporting farmers, growers, manufacturers and exporters.

"This agreement backs our businesses to compet...