India, New Zealand Forge Deeper Financial Ties with Landmark FTA Annex

India and New Zealand finalized the Financial Services Annex to their FTA, enhancing economic and strategic ties. The agreement promotes cooperation on electronic payments and real-time transactions. It supports India’s digital payment ecosystem using UPI and NPCI. The collaboration extends to fintech with regulatory sandboxes for cross-border innovation. This also allows for increased FDI limits in banking and insurance sectors.