Union Commerce and Industry Minister Piyush Goyal announced that India and New Zealand will sign a Free Trade Agreement (FTA) in Delhi, aimed at boosting trade in various sectors, particularly leather, handicrafts, and handloom. This agreement is the culmination of years of discussions between Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon. Goyal emphasized that the FTA will allow Indian goods to enter New Zealand without taxes or import duties, significantly benefiting Agra's leather industry, which already holds a 75% share in India's leather exports. Agra has approximately 5000 micro, small, and medium enterprises (MSMEs) that provide jobs to 4 to 5 lakh people directly and indirectly. The FTA is expected to increase exports from Agra by three to five times, further establishing the city as a global hub for footwear manufacturing. During a business meet in Agra, New Zealand's Trade Minister Todd McClay highlighted the potential for enhanced business ties, which would facilitate the trade of raw materials and boost design and manufacturing sectors.