New Delhi, September 16 (APAC Media): New Zealand’s Parliament on Wednesday passed legislation to implement its free trade agreement with India, paving the way for tariffs on around 95% of New Zealand exports to India to be eliminated or substantially reduced.
Indian Goods Get Duty-Free Access
The legislation was approved by a 93–29 vote, with the opposition Labour Party also backing the measure. More than half of the products covered under the agreement will receive duty-free access from the day the pact comes into effect.
New Zealand Trade Minister Todd McClay said the agreement would provide significant and immediate benefits to exporters. He added that the government expects the pact to come into force this year, fulfilling its commitment to conclude a free trade agreement with India during its current term.
Under the agreement, all Indian goods will receive duty-free access to the New Zealand market. Wellington has also committed to investing $20 billion in India over the next 15 years.
India-New Zealand Trade Growth
India and New Zealand had signed the trade agreement in April, setting the framework for deeper economic ties and improved market access between the two countries.
Bilateral trade between the two nations stood at NZ$3.99 billion ($2.29 billion) in the year to June 2026. India is currently New Zealand’s ninth-largest market for goods and services exports.
The agreement will come into effect once both countries complete their respective ratification procedures, with New Zealand’s parliamentary approval marking a key step towards its implementation.
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