India and New Zealand sign a free trade agreement to deepen economic ties
The pact opens all Indian exports to New Zealand duty-free and gives Indian professionals a 5,000-visa annual pathway, officials said.
- On Monday, April 27, Commerce and Industry Minister Piyush Goyal and New Zealand Trade and Investment Minister Todd McClay will sign a free trade agreement at Bharat Mandapam in New Delhi, targeting USD 5 billion in bilateral trade within five years.
- Following negotiations concluded in December, officials pitched the agreement as a "comprehensive partnership" rather than a conventional tariff-cutting pact, aiming to deepen economic engagement beyond the USD 2.4 billion total trade recorded in 2024.
- Under the agreement, India secures 100 per cent duty-free access for exports, while New Zealand commits to USD 20 billion in investments over 15 years and eliminates tariffs on 95 per cent of its exports.
- Indian professionals gain access to 5,000 annual visas for stays up to three years, while the pact accelerates pharmaceutical market access by accepting Good Manufacturing Practice and Good Clinical Practice inspection reports, lowering compliance costs.
- New Zealand will establish an Agri-Technology Action Plan and register India's Geographical Indications, positioning the pact as complementary to India's broader trade expansion following recent agreements with Australia and the EFTA bloc.
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74 Articles
“Historic” free-trade agreement with India signed
Prime Minister Christopher Luxon, left, with Indian Prime Minister Narendra Modi. File photo supplied New Zealand and India have signed a once-in-a-generation Free Trade Agreement (FTA) which will lead to more jobs and higher incomes for Kiwis, Prime Minister Christopher Luxon and Trade and Investment Minister Todd McClay say. Indian Minister for Commerce and Industry Piyush Goyal and McClay signed the Agreement in New Delhi in front of a large …
New Delhi: India, New Zealand ink 'once-in-a-generation' FTA
India and New Zealand on Monday inked a ‘once-in-a-generation’ trade pact, giving duty-free access to 100 per cent of domestic exports, including textiles, leather footwear, and gems and jewellery, in the island nation. The pact is expected to be implemented by the end of this year as it requires New Zealand Parliament’s approval. In India, the Union cabinet approves a trade pact. For the second time in a trade deal, India has received FDI (fore…
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Historic NZ-India FTA Signed In New Delhi
Once FADTC has completed its examination, enabling legislation will be introduced and will follow the usual legislative process. This approach is consistent with that taken for the TPP, CPTPP, and agreements with the UK, EU, and UAE.
New Zealand's lamb, wool gain day-one duty-free India access, dairy left out
New Zealand sheep meat will enter India duty-free under the new FTA signed on April 27, eliminating a 33% tariff that has long blocked Wellington from the Indian market. Wool and forestry also gain day-one access, but dairy remains largely excluded.
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