- By Chetna Shree
- Sun, 26 Apr 2026 06:41 PM (IST)
- Source:JND
India-New Zealand FTA: India and New Zealand are scheduled to sign a Free Trade Agreement (FTA) on Monday, April 27, at Bharat Mandapam. Union Commerce and Industry Minister Piyush Goyal, along with his New Zealand counterpart, Trade and Investment Minister Todd McLay, will be present at the ceremony.
This comes after the agreement was finalised in December 2025, following negotiations that began in March 2025. The pact aims to boost bilateral trade and economic cooperation between the two nations. The minister said the agreement is expected to come into effect in the next few months, providing a fresh catalyst for growth and cooperation between the two nations.
What Will India Gain?
A key highlight of the pact is the removal of import duties on approximately 70 per cent of Indian exports to New Zealand, a move expected to benefit domestic exporters. Goyal emphasised that this relief will provide new opportunities for sectors, such as Agra's leather industry and Uttar Pradesh's handloom and handicrafts industries.
The pact also covers the services sector. Under the agreement, 5,000 temporary visas will be granted annually to Indian professionals. These visas, valid for up to three years, will provide opportunities to work in sectors such as IT, engineering, healthcare, education, and construction. The agreement also paves the way for cultural and wellness experts, including AYUSH specialists, yoga instructors, Indian chefs, and music teachers.
The FTA is set to simplify regulations and reduce non-tariff barriers, ensuring faster approvals for Indian pharmaceuticals and medical devices entering New Zealand.
The agricultural sector also takes the centre stage in the agreement through a dedicated agri-technology roadmap designed to boost collaboration on high-value products such as kiwi, apples, and honey.
The agreement aims to double bilateral trade from the current $2.4 billion to $5 billion over the next five years.
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What Will New Zealand Gain?
In exchange, New Zealand is set to gain significantly through the reduction or total elimination of tariffs on 95 per cent of its exports to India. This covers a wide range of products, including wool, coal, timber, wine, avocados, and blueberries, while specific quotas will remain in place for certain products.
To safeguard the interests of domestic farmers and industries, India has excluded items such as dairy, onions, sugar, spices, edible oils, and rubber from the agreement.
(With Inputs From Jagran.com)