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Reading: Why India and New Zealand Are Finally Signing a Landmark $20 Billion Trade Deal
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Viascore > Blog > Sports India > Why India and New Zealand Are Finally Signing a Landmark $20 Billion Trade Deal
Sports India

Why India and New Zealand Are Finally Signing a Landmark $20 Billion Trade Deal

ViaScore
Last updated: 2026/04/27 at 6:03 AM
ViaScore 5 Min Read
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2 min readNew DelhiApr 27, 2026 11:33 AM IST

New Zealand Prime Minister Christopher Luxon Monday expressed optimism ahead of the signing of the Free Trade Agreement with India, calling it a “once-in-a-generation agreement”.

“Just over a year ago, I met with Prime Minister Modi in India. We agreed then, that we’d launch negotiations on a free trade agreement. For decades, many people said it couldn’t be done. But tonight, that deal gets signed,” PM Luxon said.

“This is a once-in-a-generation agreement that gives NZ exporters unprecedented access to 1.4 billion people and an economy set to become the third-largest in the world,” he added.

He said that the pact would mean “more jobs on farms and orchards, it means more money coming into local communities, and it means more opportunities for your family to get ahead.”

The free trade agreement is aimed at doubling bilateral trade to $5 billion in five years. Bilateral merchandise trade between India and New Zealand stood at $1.3 billion in 2024-25, while total trade in goods and services reached about $2.4 billion in 2024. Negotiations concluded on December 22 last year.

The pact will be signed at Bharat Mandapam in the presence of Commerce Minister Piyush Goyal and New Zealand’s Minister for Trade and Investment Industry Minister and Todd McClay, news agency PTI reported.

The pact will give Indian companies duty-free access to the island nation’s markets, and bring in $20 billion of investment in manufacturing, infrastructure, services, innovation and job creation over the next 15 years.

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New Delhi will also get quota-based tariff cuts for kiwifruit and apple exports.

For New Zealand, it would mean an elimination or reduction of tariffs on 95 per cent of its commodities destined for Indian markets.

This year, amid global trade uncertainties, India announced closure of negotiations on its FTA with the European Union.

The NDA government has so far finalised FTAs with three members of the US-led Five Eyes (FVEY) alliance: Australia (implemented in December 2022), the UK (signed in July 2025), and New Zealand.

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New Delhi has also finalised FTAs with the UAE (implemented in May 2022), EFTA bloc (implemented in October 2025), Oman (signed in December 2025), and Mauritius (came into force from April 2021).

(With inputs from PTI)

The Express Global Desk at The Indian Express delivers authoritative, verified, and context-driven coverage of key international developments shaping global politics, policy, and migration trends. The desk focuses on stories with direct relevance for Indian and global audiences, combining breaking news with in-depth explainers and analysis.

A major focus area of the desk is US immigration and visa policy, including developments related to student visas, work permits, permanent residency pathways, executive actions, and court rulings. The Global Desk also closely tracks Canada’s immigration, visa, and study policies, covering changes to study permits, post-study work options, permanent residence programmes, and regulatory updates affecting migrants and international students.

All reporting from the Global Desk adheres to The Indian Express’ editorial standards, relying on official data, government notifications, court documents, and on-record sources. The desk prioritises clarity, accuracy, and accountability, ensuring readers can navigate complex global systems with confidence.

Core Team

The Express Global Desk is led by a team of experienced journalists and editors with deep expertise in international affairs and migration policy:

Aniruddha Dhar – Senior Assistant Editor with extensive experience in global affairs, international politics, and editorial leadership.

Nischai Vats – Deputy Copy Editor specialising in US politics, US visa and immigration policy, and policy-driven international coverage.

Mashkoora Khan – Sub-editor focusing on global developments, with a strong emphasis on Canada visa, immigration, and study-related policy coverage. … Read More

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