Summary:

A significant step toward deepening economic connections was taken on April 27, 2026, when India and New Zealand inked a historic Free Trade Agreement (FTA). The agreement, which was signed by Piyush Goyal and Todd McClay, benefits industries including textiles, pharmaceuticals, and engineering items by allowing duty-free access to 100% of Indian exports to New Zealand. Within five years, it hopes to quadruple bilateral trade to ₹46,220 crore (US$5 billion) and enhance cooperation, mobility, and services trade. Additionally, during the course of 15 years, New Zealand has invested ₹18.49 lakh crore (US$20 billion) in India. In addition to encouraging investment, technology transfer, and greater Indo-Pacific trade integration overall, the pact lowers tariffs, facilitates commerce, supports visas, and safeguards delicate industries like dairy.

Source: IBEF

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