New Delhi: India and New Zealand have concluded a landmark Free Trade Agreement (FTA), described as the first women-led trade pact and among India’s fastest agreements with a developed country, finalised in just nine months.
Negotiations were launched on 16 March, following talks between Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade and Investment Minister Todd McClay and concluded after five formal negotiation rounds.
The FTA gives duty-free access to all Indian exports, with New Zealand eliminating tariffs on 100 per cent of its tariff lines.
India will cut tariffs on 70 per cent of lines, covering 95 per cent of bilateral trade, benefiting labour-intensive sectors such as textiles, leather, gems and jewellery, engineering goods and automobiles.
India has also secured New Zealand’s widest-ever services commitments across 118 sectors, alongside enhanced student and professional mobility, including post-study work visas and dedicated visa quotas.
The agreement includes agriculture productivity partnerships, protects sensitive farm products and commits New Zealand to facilitating USD 20 billion in investments in India over 15 years.
The deal is positioned as a forward-looking pact aligned with Viksit Bharat 2047.
