India, New Zealand seal historic FTA; Piyush Goyal calls it a ‘defining milestone’

The agreement will now require ratification by the Parliament of New Zealand before it comes into effect.

The official documents were signed by Goyal and Todd McClay, New Zealand’s Trade Minister, at Bharat Mandapam in New Delhi.

Commenting on the development, Goyal wrote on X, “Successfully concluded in a record nine months, with the steadfast efforts of New Zealand Trade Minister Mr. Todd McClay and both negotiating teams, this landmark agreement reflects deep mutual trust, shared ambition, and a common commitment to prosperity.”

He said the pact grants 100 per cent duty-free access for Indian exports to New Zealand, creating major opportunities for MSMEs, farmers, women, youth, professionals, and job-generating sectors, while safeguarding India’s sensitive interests through a balanced and calibrated framework.

According to Goyal, the agreement is also expected to facilitate $20 billion in investment into India, strengthening cooperation in trade, services, investment, innovation, mobility, agricultural productivity, and education, while creating new pathways for skilled professionals and students.

“A truly win-win partnership that advances the vision of Viksit Bharat, strengthens India-New Zealand ties, and sets a new benchmark for inclusive and trusted global cooperation,” Goyal said.