Fast-Tracking the India-New Zealand Free Trade Dream

India and New Zealand aim to expedite negotiations for a free trade agreement, potentially boosting their current $1.3 billion trade. Discussions, led by New Zealand's Trade Minister Todd McClay and India’s Commerce Minister Piyush Goyal, focus on reducing tariffs and promoting investment, following previously stalled talks in 2015.

On Friday, India and New Zealand explored avenues to expedite negotiations on a proposed free trade agreement (FTA), aiming to enhance their bilateral economic ties. Discussions took place with New Zealand Trade Minister Todd McClay visiting India to evaluate progress alongside Commerce and Industry Minister Piyush Goyal.

Following their meeting, Goyal shared on social media that key elements of the India-New Zealand FTA were examined, with efforts aimed at advancing negotiations for mutual benefits. Talks, which began formally on March 16, 2025, have seen four completed rounds.

India's merchandise trade with New Zealand was valued at USD 1.3 billion in 2024-25, marking a near 49% rise from the prior year. The FTA is projected to boost trade flows, strengthen investment ties, and provide businesses with a stable operating framework.

(With inputs from agencies.)