India and New Zealand on Monday formally signed a long-awaited free trade agreement (FTA). The deal, described by New Zealand PM Christopher Luxon as a “once-in-a-generation” pact, is expected to boost trade in goods and services, enhance investment flows and improve labour mobility. Responding to Luxon’s announcement, Prime Minister Narendra Modi said the agreement would significantly accelerate bilateral development. “It reflects the deep trust, shared values and ambition that bind our two nations,” PM Modi said in a post on X responding to Luxon’s post.