India and New Zealand will sign free trade agreement on Monday, April 27, according to Prime Minister Christopher Luxon.
The two countries last year announced the conclusion of negotiations for the trade deal, which aims to double bilateral trade to $5 billion in the next five years. The trade deal will be signed in Bharat Mandapam, New Delhi after a meeting of the India-New Zealand Business Forum, PTI reported.
In a post on X, PM Luxon said, "We'll sign our Free Trade Agreement with India on Monday."
What Is India-New Zealand FTA About?
The deal aims to provide tariff-free access to the New Zealand's market for Indian goods, which will likely bring in $20 billion investment over the next 15 years, the news portal said.
Under the agreement, India will secure zero-duty market access on 100% of its exports, while tariffs will be eliminated or reduced on 95% of New Zealand's exports to the country, including items such as wool, coal, wood, wine, to avocados and blueberries.
Notably, India has not made any duty concessions on imports of dairy products such as milk, cream, whey, yoghurt, and cheese; onions, sugar, spices, edible oils, and rubber with the aim protect farmers and the domestic industry.
New Zealand will also get also get duty-free access to goods such as sheep meat, wool, coal and more than 95% of forestry and wood articles.
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In terms of services sector, New Zealand will give a temporary employment entry visa pathway for Indian professionals in skilled occupations with a quota of 5,000 visas every year and a provison to stay up to three years.
India and New Zealand bilateral merchandise trade was around $1.3 billion in 2024-25. The total trade in goods and services touched nearly $2.4 billion in 2024, with only services trade reaching $1.24 billion, driven by travel, IT, and business services.
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