India and New Zealand on Sunday signed a free trade agreement, marking a major step toward expanding bilateral commerce. Prime Minister Narendra Modi welcomed the deal after it was formally concluded in New Delhi.
Negotiations for the pact began in March 2025 and were completed in December 2025. A New Zealand delegation led by Trade Minister Todd McClay travelled to India for the signing.
The agreement was signed by Union Minister Piyush Goyal on behalf of India and Minister Todd McClay for New Zealand. Under the pact, New Zealand will make import duties on all categories of Indian goods zero.
India, in turn, will reduce or eliminate duties on a wide range of imports from New Zealand, including timber logs, wine, avocado, blueberries and other fruits. However, dairy and dairy products are excluded from tariff concessions.
The agreement also includes a provision for 5,000 New Zealand visas for Indian students. India expects foreign investment worth Rs 1.86 lakh crore over the next 15 years as a result of the pact.
