India and New Zealand formally signed the Free Trade Agreement, cutting down duty on Indian exports to zero across all tariff lines. The FTA was signed in the presence of Commerce and Industry Minister Piyush Goyal and his Australian counterpart Todd McClay.
The Agreement opens up free trade across several sectors such as services, mobility, education, healthcare, traditional medicine etc. Under the agreement, New Zealand will invest 20 billion dollars to support economic growth in India. The deal also includes safeguards to protect India’s key sectors such as dairy, agriculture, and gems and jewellery. The FTA is aimed at boosting bilateral trade between the two countries.
The negotiations for the Agreement, which began in 2010, were officially concluded in 2025. Speaking at the India–New Zealand Business Forum earlier in the day, Mr Goyal said the FTA reflects the shared trust between the two nations and sets the stage for doubling bilateral trade. He said the agreement will create new opportunities for businesses in countries, strengthening value chains and further deepening economic partnerships.
He highlighted that India’s large market, skilled workforce, digital capabilities, and manufacturing strengths complement New Zealand’s expertise in areas such as agritech, clean energy, and fintech.
Mr Goyal added that the agreement will build various opportunities for the farmers, entrepreneurs, students, women, and innovators by benefiting trade, tourism, research and development, education, innovation, and the services sector.
He further mentioned that the agreement will drive modern agricultural productivity, opening doors for Indian businesses in the region through well-integrated directional exports and providing the youth choices to learn, work and grow on a global stage.