India And New Zealand Sign Free Trade Agreement To Boost Trade And Investment

India and New Zealand on Monday signed a Free Trade Agreement (FTA) at Bharat Mandapam in the national capital, marking what Commerce and Industry Minister Piyush Goyal described as a significant milestone in India’s economic engagement with developed nations.

The agreement was concluded in the presence of senior officials from both countries and is expected to deepen trade, investment, and economic cooperation. Speaking at the signing ceremony, Goyal said the global economy is undergoing major structural changes, with countries reassessing partnerships and reshaping trade relationships. He noted that India and New Zealand had chosen to strengthen ties at a time of global economic realignment.

Goyal highlighted that the FTA was finalised in a record nine months, reflecting what he described as strong mutual trust and shared ambition. He added that the agreement includes an investment commitment of USD 20 billion from New Zealand into India, signalling confidence in India’s long-term growth trajectory. According to him, the pact places emphasis on supporting micro, small and medium enterprises (MSMEs), promoting innovation, and enabling greater participation of women-led enterprises in international markets.

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The minister also linked the agreement to India’s broader economic roadmap, stating that it aligns with the vision of a “Viksit Bharat 2047.” He further noted that this is the seventh free trade agreement he has signed in the past three and a half years, with discussions underway for additional agreements, including with the European Union and the United States in the coming months.

New Zealand Prime Minister Christopher Luxon, in a statement on the occasion, called the agreement a historic milestone that would open new opportunities for trade, investment, and innovation. He said it would improve market access, support export growth, and strengthen cooperation in sectors such as agriculture, while also enhancing people-to-people ties between the two countries.

New Zealand Trade Minister Todd McClay also emphasised that while governments negotiate agreements, businesses ultimately convert them into tangible outcomes such as jobs, exports, and long-term partnerships. He acknowledged India’s rapid economic growth and reiterated New Zealand’s commitment to strengthening its partnership with India as part of its broader development journey.

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