India, New Zealand ink “historic” free trade agreement, to be implemented later this year
India and New Zealand have signed a Free Trade Agreement (FTA) aimed at enhancing trade and investment between the two nations. The agreement includes significant tariff reductions and provisions for professional mobility. Both countries view this FTA as a historic milestone in their economic partnership.
- ▪The FTA was signed by Commerce Minister Piyush Goyal and New Zealand's Todd McClay in New Delhi.
- ▪New Zealand will eliminate all tariffs on goods imported from India, while India will reduce tariffs on 95% of imports from New Zealand.
- ▪The deal is expected to come into force later this year after ratification by New Zealand's Parliament.
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India and New Zealand on Monday (April 27, 2026) signed a Free Trade Agreement (FTA) that the Prime Ministers of both countries hailed as a “historic” step towards deepening trade, investment, and people-to-people ties between the two countries. The FTA, signed by Commerce Minister Piyush Goyal and his New Zealand counterpart Todd McClay in New Delhi, will see New Zealand removing all tariffs on all goods imported from India, while India will remove or reduce tariffs on 95% of current imports from New Zealand.Explained | What is the India-New Zealand Free Trade Agreement?“Today marks a historic milestone in India’s journey towards deeper global engagement and shared prosperity,” Mr. Modi said in a statement read out by Mr. Goyal, as the Prime Minister is currently in West Bengal.
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