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
WTO reform push: India flags dysfunctional dispute system at MC14, seeks review of e-commerce duty moratorium India urged members of the World Trade Organisation (WTO) to restore a fully functional dispute settlement system during the 14th ministerial conference (MC14) in Yaounde, Cameroon, emphasizing that the current mechanism has failed to provide effective redressal for member countries. Commerce and industry minister Piyush Goyal highlighted the need to revive the automatic and binding nature of dispute resolution within the WTO, stating that the dysfunction in the system has deprived nations of critical legal recourse. Speaking on the opening day of the conference, Goyal called for urgent action to address the crisis, stressing that the dispute settlement mechanism is a cornerstone of the organization’s credibility. The WTO’s dispute settlement system has been inoperable since 2009, when the United States blocked the appointment of new members to the Appellate Body, a key judicial body within the organization. Goyal’s remarks underscored the broader concerns about the WTO’s ability to enforce trade rules and resolve conflicts among member states. He also called for a reassessment of the moratorium on customs duties on electronic transmissions, which has been extended periodically since 1998. India has consistently raised concerns about the potential revenue implications of the arrangement, arguing that the lack of a unified understanding among members on the scope of the moratorium warrants careful reconsideration. The four-day MC14, set to conclude on March 29, has seen discussions on broader WTO reforms, with Goyal emphasizing that any restructuring must be transparent, inclusive, and driven by member priorities.#india #piyush_goyal #world_trade_organization #mc14 #appellate_body
Market Commentary for March 18th 2026 Markets showed a strong rebound following supportive global cues, but investors remained cautious as sentiment remained sensitive to developments in West Asia, fluctuations in crude oil prices, and the activity of foreign institutional investors (FIIs). A near-term relief rally persisted, though its sustainability hinged on de-escalation in geopolitical tensions and moderation in energy prices. The Nifty 50 index gained 0.8% over three consecutive sessions, crossing the 23,750 mark to close at 23,777, up 196 points. Broader indices also advanced, with the Midcap100 and Smallcap100 indices rising 2% and 1.6% respectively. The rally was driven by positive global signals, softer crude oil prices, and selective buying at lower levels. A decline in the India VIX suggested improving investor confidence and reduced near-term volatility. Gains were led by buying in information technology (IT) and automobile stocks, which rebounded on value buying after recent declines. The IT index had fallen 3.6% in March, while the auto index dropped 9.1% during the same period. IT stocks gained over 4% as concerns about AI disruption eased, while the auto index rose more than 2%. Strong auto registrations in March, showing double-digit growth across most segments, highlighted robust underlying demand in the sector. The Indian rupee weakened to a record low of Rs.92.6 against the US dollar, pressured by strong dollar demand from oil importers and foreign fund outflows. The Reserve Bank of India (RBI) intervened by selling dollars to curb excessive volatility. Depreciation pressures are expected to persist if crude oil prices remain elevated.#nifty_50 #reserve_bank_of_india #piyush_goyal #geojit_ventures #geopl_capital_ltd
Indian equity markets expected to open positive on Monday amid mixed global cues The Indian stock market is anticipated to open on a positive note on Monday, despite weak signals from international markets. Traders are likely to adopt a cautious, wait-and-watch stance ahead of the release of the Wholesale Price Index (WPI) for February. However, lingering geopolitical tensions and ongoing outflows by foreign institutional investors may temper optimism. Key factors to monitor include Fitch Ratings' revised GDP growth forecast for fiscal year 2026, which has been raised to 7.5% from previous estimates. Domestic demand is highlighted as the primary driver of this growth. Additionally, Union Minister Piyush Goyal emphasized India's preparedness to manage crude oil and fuel supply challenges amid disruptions in West Asia. Commerce Secretary Rajesh Agrawal called for India to transition from being the "Pharmacy of the World" to a global leader in medical technology manufacturing. The Aluminium Association of India (AAI) has urged the government to exempt aluminium products from recent RoDTEP rate cuts to maintain competitiveness in international markets. Meanwhile, the diamond sector is under scrutiny, with the Gem and Jewellery Export Promotion Council (GJEPC) reporting a 3.86% year-on-year increase in exports to $2,680.79 million in February, attributed to diversification into new markets. Global markets faced mixed performance, with U.S. indices closing lower as investors focused on the Federal Reserve's policy decisions amid rising crude oil prices. Asian markets opened in negative territory, influenced by Wall Street's poor showing. Domestically, Indian equity benchmarks continued to decline, with the Sensex dropping over 1,450 points and the Nifty falling below the 23,200 mark.#indian_stock_market #wholesale_price_index #piyush_goyal #rajesh_agrawal #aluminium_association_of_india
