India and New Zealand have signed a landmark Free Trade Agreement (FTA), positioning it as a major step forward in deepening economic ties, boosting exports, and unlocking investments, according to official statements.
The pact, signed at Bharat Mandapam in New Delhi by Commerce Minister Piyush Goyal and New Zealand Trade Minister Todd McClay, is being described as a “once-in-a-generation” opportunity to strengthen bilateral engagement.
According to a PIB report, McClay termed the agreement transformative, saying it would “boost exports, create jobs, and strengthen bilateral economic ties,” while improving market access and reducing trade barriers. He also pointed to strong business participation and deep people-to-people linkages between the two nations.
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Goyal called the FTA a defining milestone in India's engagement with developed economies, aligned with Prime Minister Narendra Modi's push for expanded global partnerships.
“This forward-looking agreement will also facilitate $20 billion of investment into India, deepening our cooperation in trade, services, investment, innovation, mobility, agriculture productivity and education, and creating pathways for skilled talent and students,” he wrote on X.
India and New Zealand, under the leadership of PM @NarendraModi ji and PM of New Zealand Mr. @ChrisLuxonMP, have signed the #IndiaNZFTA, India's first women-led Free Trade Agreement and a defining milestone in our bilateral economic journey.
— Piyush Goyal (@PiyushGoyal) April 27, 2026
Successfully concluded in a record… pic.twitter.com/N6hSGKg4fL
A key highlight of the deal is 100% duty-free access for Indian exports to New Zealand across all tariff lines, a move expected to significantly boost labour-intensive sectors such as textiles, leather, engineering goods, and processed foods.
Commerce Secretary Rajesh Agrawal said the FTA “marks a new era in our economic partnership,” adding that Indian exporters will gain a level playing field and scale advantages in the Indo-Pacific.
“The deal offers predictability in today's uncertain world,” he said.
PIB noted that the agreement, concluded in just nine months, opens 118 services sectors for India, introduces mobility pathways for professionals and students, and lays out frameworks for agricultural cooperation, innovation, and supply chain integration.
New Zealand Prime Minister Christopher Luxon described the pact as transformative. “It's a once in a generation agreement,” he said, adding that India's emergence as the world's third-largest economy offers Kiwi exporters “unprecedented access” to a 1.4 billion-strong market.
Prime Minister Modi echoed the sentiment, calling it a landmark moment in bilateral ties.
“This agreement will greatly benefit our farmers, youth, women, MSMEs, artisans, startups, students and innovators… The investment commitment of $20 billion by New Zealand will further strengthen our cooperation… paving the way for a more prosperous and dynamic future for both countries,” he said in a post on X.
Today marks a landmark moment in the India-New Zealand partnership!
— Narendra Modi (@narendramodi) April 27, 2026
I am delighted that the India-New Zealand FTA signed today will add unprecedented momentum to our developmental partnership. It reflects the deep trust, shared values and ambition that bind our two nations.… https://t.co/WBHn4gb1yB
With bilateral trade currently modest, both sides expect the FTA to significantly expand trade and investment flows, reinforcing a broader strategic partnership anchored in economic cooperation and shared growth ambitions.
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