India and New Zealand Sign Once-in-a-Generation Trade Deal The India-New Zealand Free Trade Agreement (FTA), signed on Monday, marks a significant milestone in bilateral economic relations. Dubbed a “once-in-a-generation” pact, the deal aims to boost trade, investment, and collaboration between the two nations. The agreement, negotiated over five rounds of talks and finalized in December 2025, is set to double bilateral trade to $5 billion within five years. It includes provisions for zero tariffs on Indian exports, visa facilitation for professionals, and a $20 billion investment commitment from New Zealand over 15 years. The FTA was signed by India’s Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade and Investment Minister Todd McClay in Delhi. Prime Minister Narendra Modi highlighted the agreement’s potential to benefit farmers, youth, women, small businesses, and innovators, emphasizing its role in fostering growth and deepening economic synergy. New Zealand’s government also praised the deal as a transformative agreement, noting India’s projected status as the world’s third-largest economy. The FTA is notable for being one of the fastest concluded by India with a developed nation, achieved in just nine months after its launch. This follows India’s active engagement in trade agreements, with this being its ninth such deal in recent years. Bilateral trade between the two countries stood at $2.4 billion in 2024, with $1.24 billion in services trade (led by IT, travel, and business services) and $1.3 billion in merchandise trade. India’s exports to New Zealand include petroleum products, pharmaceuticals, and machinery, while imports consist of scrap metals, coal, and dairy products.#india #new_zealand #piyush_goyal #todd_mcclay #free_trade_agreement
