India and New Zealand signed the Free Trade Agreement (FTA) on Monday, marking a significant step in strengthening bilateral economic ties, with the pact expected to bring deep tariff cuts, expanded market access and enhanced services cooperation. (Pics/PTI)
Updated On: 2026-04-27 05:48 PM IST
Compiled by : ronak mastakar
The deal signed between India's Commerce and Industry minister Piyush Goyal and New Zealand, Minister for Trade and Investment Todd McKlay is being described as one of India's fastest concluded bilateral trade deals.
The FTA discussion concluded in December 2025, after negotiations that began in March the same year, is being described as one of India's fastest trade deals to move from negotiations to signing in just nine months.
The agreement follows earlier negotiations that had stalled after multiple rounds, primarily over concerns related to India's dairy sector. The renewed deal reflects a more calibrated approach, balancing market access with sectoral sensitivities.
Under the pact, New Zealand has committed to invest around USD 20 billion in India over the next 15 years, while also easing trade barriers and simplifying standards and dispute settlement mechanisms.
Bilateral merchandise trade between the two countries has shown fluctuations in recent years, with India's exports and imports both witnessing periodic rises. Services trade has gained momentum, with India's services exports to New Zealand rising by about 13 per cent to reach USD 634 million in 2024, while imports grew by around 7 per cent to USD 611 million.
