India Closes Free Trade Deal with New Zealand: A New Era of Economic Collaboration

India has concluded negotiations for a free trade agreement with New Zealand, marking its 18th FTA. Expected to be signed soon, this agreement will enhance trade and investments between the two nations. India aims to diversify export markets and attract foreign investment through such strategic trade deals.

India has finalized negotiations for a free trade agreement (FTA) with New Zealand, marking its 18th such deal as the country seeks to enhance bilateral trade and investments. This agreement is expected to be officially signed within the next three months and could come into force by next year.

This FTA will enable Indian goods, particularly from labor-intensive sectors such as textiles, plastics, leather, and engineering, to enter New Zealand with zero duty. New Zealand has committed to investing USD 20 billion over the next 15 years, indicating a significant boost for India's foreign investment landscape.

The trade pact also secures commitments from New Zealand across various high-value services sectors, including information technology, education, and tourism. A new Temporary Employment Entry Visa pathway aims to facilitate skilled Indian professionals' entry into New Zealand, with a quota allowing 5,000 visas at a time for up to a three-year stay.