The proposed free trade agreement between India and New Zealand could expand bilateral trade by 10 times in 10 years, India's Trade Minister Piyush Goyal said on Tuesday.

India and New Zealand are negotiating a Free Trade Agreement, with Union Minister Piyush Goyal predicting a significant trade boom in agriculture, minerals, pharmaceuticals, and tourism. The proposed agreement could expand trade by 10 times in 10 years.

Indian Prime Minister Narendra Modi and his New Zealand counterpart, Christopher Luxon, met Monday seeking to deepen their defense and economic ties, a day after the countries announced the revival of negotiations for a free trade agreement.