New Delhi, Dec. 23 -- The recently signed India-New Zealand Free Trade Agreement (FTA) is set to facilitate increased bilateral investment, institutional presence, and services delivery, the Ministry of Finance said on Tuesday.
At present, two Indian banks, namely, Bank of Baroda and Bank of India, maintain subsidiary operations in New Zealand with a combined total of four branches, while New Zealand currently has no banking or insurance presence in India, and no Indian insurance companies have established operations in New Zealand.
This FTA, by establishing clear market access commitments, regulatory transparency, and bilateral cooperation frameworks, will facilitate increased bilateral investment, institutional presence, and service del...