India-New Zealand Free Trade Agreement Signed

India and New Zealand have officially signed a Free Trade Agreement (FTA) on April 27, 2026, following legal verification. This 'once-in-a-generation agreement' aims to deepen economic and strategic ties, with New Zealand's Trade and Investment Minister Todd McClay and Prime Minister Christopher Luxon highlighting expanded market access to India's 1.4 billion people. The pact eliminates or reduces tariffs on 95% of New Zealand's exports to India, including lamb, wool, coal, and forestry products, with 57% becoming duty-free immediately. India, in turn, gains zero-duty market access on 100% of its exports to New Zealand. The agreement is projected to channel USD 20 billion in investment into India and double bilateral trade to USD 5 billion within five years. It also includes provisions for a temporary employment entry visa pathway for 5,000 Indian professionals annually in high-demand sectors and mutual recognition of Good Manufacturing Practices (GMP) and Good Clinical Practices (GCP) reports, benefiting India's pharma and medical devices sectors. The Gem & Jewellery Export Promotion Council anticipates a rise in India's gems and jewellery exports to New Zealand to USD 50 million within three years due to zero-duty access.