New Zealand pact a booster for financial services

New Delhi: The finance ministry said on Tuesday the India-New Zealand free trade agreement will strengthen bilateral cooperation in financial services with innovative provisions on digital payments, fintech, data transfer and back-office services, and has potential to establish India as a fintech hub.

"This free trade agreement (FTA), by establishing clear market access commitments, regulatory transparency and bilateral cooperation frameworks, will facilitate increased bilateral investment, institutional presence and services delivery," the ministry said in a release.