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India and New Zealand Sign Free Trade Agreement; Tariffs to Be Eliminated on Most Goods

Published on: 03 Jul 2026, 01:56 AM

India and New Zealand signed a Free Trade Agreement (FTA) on Monday, April 27, 2026, in New Delhi. The agreement was signed by Commerce Minister Piyush Goyal and his New Zealand counterpart Todd McClay.

Under the terms of the FTA, New Zealand will remove all tariffs on all goods imported from India. In return, India will remove or reduce tariffs on 95% of current imports from New Zealand. This is expected to significantly boost bilateral trade and investment between the two countries.

Both Prime Ministers hailed the agreement as a historic step towards deepening trade, investment, and people-to-people ties. The FTA is scheduled to be implemented later this year.

The agreement is part of India's broader strategy to enhance economic engagement with nations in the Asia-Pacific region. It is anticipated to benefit sectors such as agriculture, textiles, and services on both sides.

Source: The Hindu

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