Trending Now - India and New Zealand Forge Free Trade Pact to Boost Trade Relations

WHO:

AP News - India’s Commerce and Industry Minister Piyush Goyal and New Zealand Trade and Investment Minister Todd McClay signed the agreement.

WHAT:

AP News - India and New Zealand signed a free trade agreement to deepen economic ties and expand market access.

AP News - The deal will cut or eliminate tariffs on 95% of New Zealand’s exports to India and make all Indian exports to New Zealand duty-free.

AP News - Wellington has committed to invest $20 billion in India over the next 15 years.

AP News - Bilateral trade between India and New Zealand was valued at $2.15 billion in the year through June 2025.

WHERE:

AP News - The agreement was signed in New Delhi, India.

WHEN:

AP News - The agreement was negotiated over nine months and agreed in December.

AP News - The investment commitment of $20 billion is set to occur over the next 15 years.

WHY:

AP News - The deal aims to help India diversify export markets to offset the impact of steep tariffs imposed by the United States and instability in shipping and energy routes due to the Iran war.

AP News - For New Zealand, the agreement is part of a broader push to reduce reliance on China, its largest trading partner.

HOW:

AP News - The agreement includes frameworks for investment and regulatory cooperation.

AP News - India has excluded dairy and certain agricultural products from the deal to protect its farming sector.

(UPDATED April 28, 2026 04:14 UTC)

India and New Zealand have signed a free trade agreement aimed at deepening economic ties and expanding market access, with the deal cutting or eliminating tariffs on 95% of New Zealand's exports to India while making all Indian exports to New Zealand duty-free. The agreement was signed in New Delhi by India's Commerce and Industry Minister Piyush Goyal and New Zealand's Trade and Investment Minister Todd McClay, and it includes a commitment from Wellington to invest $20 billion in India over the next 15 years. This move is part of India's strategy to diversify its export markets amid challenges from steep tariffs imposed by the United States and ongoing instability in shipping and energy routes, while New Zealand seeks to reduce its reliance on China.