New Delhi, March 17 -- India and New Zealand have officially announced the commencement of negotiations for a Free Trade Agreement (FTA), marking a significant step toward enhancing economic cooperation amid global trade tensions.

The decision was formalised during New Zealand Prime Minister Christopher Luxon's visit to India from March 16-20, according to a statement released by the commerce ministry on Sunday.

Commerce and Industry Minister Piyush Goyal and New Zealand's Trade and Investment Minister Todd McClay led the discussions, which represent India's strategic effort to diversify its trade partnerships and reduce dependency on traditional markets.

"The India-New Zealand FTA negotiations aim to achieve balanced outcomes by enhan...