New Delhi, December 22:
India and New Zealand have concluded negotiations on a Free Trade Agreement (FTA), marking a significant milestone in bilateral economic cooperation. Under the pact, tariffs will be eliminated or reduced on about 95 per cent of goods traded between the two countries, with more than half of New Zealand’s exports to India becoming duty-free upon implementation.
The agreement, finalised after nearly ten months of talks following a long hiatus in negotiations, is expected to boost trade flows and enhance market access for exporters on both sides. New Zealand Prime Minister Christopher Luxon said the deal will open up substantial opportunities for Kiwi businesses in India’s expanding consumer and industrial markets.
Officials project that the tariff cuts could raise New Zealand’s exports to India by between $1.1 billion and $1.3 billion per year over the next two decades, particularly benefiting sectors such as forestry, horticulture and manufactured goods. The pact also aims to strengthen cooperation in services, investment and trade facilitation.
Trade analysts noted that the FTA will support broader economic ties and provide a framework for deeper engagement in technology, education and sustainable development. The agreement is expected to be formally signed early next year after domestic procedures in both countries are completed.
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