India and New Zealand have finalized negotiations on a bilateral free trade agreement (FTA), which is scheduled to be formally signed in the first quarter of next year, according to an Indian government statement issued on December 23.
Under the agreement, India will receive zero-duty access for all goods exported to New Zealand, while New Zealand will gain duty concessions on around 70% of India’s tariff lines, covering approximately 95% of New Zealand’s exports to India, implemented on a phased basis.
In addition, New Zealand has committed to invest $20 billion in India over 15 years, while skilled Indian professionals are expected to benefit from improved access to New Zealand’s labor market. Officials described the deal as a major step in strengthening trade, investment and workforce mobility between the two countries.
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