India is set to finalize a free trade agreement (FTA) with New Zealand following multiple rounds of negotiations that began in March this year.
According to CNBC, the deal could be signed ‘anytime now,’ after receiving approval from India’s Union Cabinet to advance bilateral ties.
Indian Prime Minister Narendra Modi urged greater collaboration and investment in areas including dairy, food processing, and pharmaceuticals, along with renewable energy and critical minerals.
“Joint work shall be done in forestry and horticulture. I am confident that the large business delegation accompanying the prime minister shall get an opportunity to explore and understand the new possibilities in India,” Modi stated earlier.
India’s key imports from New Zealand include wool, iron and steel, fruit and nuts, and aluminum, while its exports to the country consist mainly of pharmaceuticals, mechanical machinery, textiles, and pearls, along with precious stones and metals.
During 2023–24, New Zealand recorded a total trade of $1.75 billion, comprising $0.84 billion in exports of goods and services and $0.91 billion in imports.
“Our navies are working together in the Combined Task Force-150 for maritime security in the Indian Ocean,” Modi affirmed.
Modi also said that India and New Zealand have agreed to deepen cooperation in defense and security. He unveiled plans to draw up a roadmap covering collaboration in training, port visits, and the broader defense industry.
During New Zealand Prime Minister Christopher Luxon’s visit to India in March 2025, Luxon and Modi held discussions on strengthening trade and investment ties.
Once finalized, the agreement will become India’s seventh trade pact since 2021 and will form part of its broader diversification strategy.
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