India and New Zealand to sign Free Trade Agreement (FTA) for USD 5 billion trade target

Key facts

• India and New Zealand will sign a Free Trade Agreement (FTA) on April 27, 2026, at Bharat Mandapam in New Delhi.
• The pact aims to attract USD 20 billion in investment over the next 15 years and double bilateral trade to USD 5 billion within five years.
• India will receive zero-duty market access on 100 per cent of its exports to New Zealand under the agreement.
• The agreement will eliminate or reduce tariffs on 95 per cent of New Zealand's exports to India, including wool, coal, wood, wine, avocados, and blueberries.
• India has excluded dairy products (milk, cream, whey, yoghurt, cheese), onions, sugar, spices, edible oils, and rubber from duty concessions to protect domestic farmers.
• New Zealand will provide a temporary employment entry visa pathway for Indian professionals in skilled occupations with an annual quota of 5,000 visas and a stay of up to three years.
• Bilateral merchandise trade between the two nations stood at USD 1.3 billion in 2024-25, while total trade in goods and services reached USD 2.4 billion in 2024.