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Informist, Monday, Sept. 21, 2026

 

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--Minister Goyal: India-New Zealand FTA to come into force Oct 20
--Minister Goyal: India-New Zealand FTA to lead to great economic outcomes
--Minister Goyal: India-New Zealand FTA to help overcome trade hurdles
--Minister Goyal:Must ensure India-New Zealand FTA leads to tangible benefits
--Minister Goyal: India's export to New Zealand may double after FTA
--Minister Goyal: India's exports up 15% Apr 1-Sept 14 despite global issues

 

NEW DELHI – The free trade agreement between India and New Zealand will come into force on Oct. 20, Commerce Minister Piyush Goyal said Monday. The FTA with New Zealand was signed in April.

 

The FTA with New Zealand provides zero-duty access for 100% of Indian goods across more than 8,200 tariff lines. India has opened market access on roughly 70% of its tariff lines while protecting sensitive domestic sectors. The total bilateral trade between India and New Zealand was $1.16 billion in 2025-26 (Apr-Mar), with India exporting goods worth $566.51 million and importing goods worth $590 million. However, following the trade agreement, there is a possibility that India's exports to New Zealand may double, Goyal said. 

 

"This strategic partnership and the roadmap to 2030 reflects our shared ambition to deepen this cooperation and includes the aspirational goal of doubling bilateral trade in goods and services to almost INR 35,000 crore (INR 350 billion) in the next four or five years," he said. "The entry into force of the India-New Zealand free trade agreement will translate this goal into concrete economic outcomes."

 

India has kept several sensitive sectors outside the tariff concessions, including dairy and agricultural products such as peas, onions, chickpeas, almonds and sugar. Goyal said, highlighting that New Zealand's kiwifruit and honey sectors could gain from greater access to the Indian market. 

 

The FTA facilitates investments of $20 billion over the next 15 years from New Zealand to India, he said, adding that it also establishes an agriculture productivity partnership whereby New Zealand's technology will meet India's scale and growing demand.  

 

The minister expects the FTA to help overcoming any hurdles that are there in India and New Zealand's bilateral trade. "Looking forward, our immediate priority should be to ensure that the provisions of the agreement immediately translate into tangible benefits for businesses and people of India and New Zealand," Goyal said.

 

Separately, Goyal said India's export grew over 15?tween Apr. 1 and Sept. 14 despite the ongoing uncertainty globally. "And this is during periods there are two wars going on. And all sorts of complications in the Strait of Hormuz, which is our principal trading group, being under severe stress and problems," he said. "Despite all that, India has seen an export growth upward of 15%."

 

 

Further, talking about the Comprehensive Economic Partnership Agreement between India and Canada, Goyal said that both sides have resolved to fast-track negotiations, with the fourth round of negotiations concluded on Friday. The fifth round of negotiations will start on Oct. 5.

 

"So, you can see that as the progress is taking shape, the speed of negotiations with Canada is also improving. And I think, we are now in September, let's say the next 90 days should be a very defining period in the Canada-India relationship," Goyal said. India and Canada have bilateral trade of around $8.5 billion and both governments have set a target of expanding it to $70 billion by 2030. India exported goods worth $4.67 billion to Canada in 2025-26 (Apr-Mar) and imported goods worth $3.29 billion. End

 

US$1 = INR 95.82

 

Reported by Pratiksha

Edited by Akul Nishant Akhoury

 

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