Todd McClay has signed a major free trade agreement with India removing tariffs on 95 per cent of New Zealand exports, with a $20 billion investment commitment that is expected to double bilateral trade to around $5 billion a year.
Rapid Intelligence Briefing
- Deal Details: Tariffs removed on 95 per cent of NZ exports to India, with a $20 billion investment commitment. Bilateral trade expected to double to ~$5 billion annually.
- Labour Position: Backed the deal but with reservations on labour standards and Pharmac. National claiming full credit.
- Timing and Politics: Lands while Luxon is under poll pressure, giving the coalition a clear economic win and possible bipartisan signal on major projects.
- NZ First Reaction: Strongly sceptical. Winston Peters expected to weaponise the deal in campaign, accusing National of drifting too close to Labour.
