India, New Zealand set free-trade pact

India and New Zealand are due to sign a free-trade agreement on April 27 in New Delhi after completing legal verification of the text last week. (beehive.govt.nz) (indianexpress.com) The pact is scheduled to be signed at Bharat Mandapam in the presence of India’s Commerce and Industry Minister Piyush Goyal and New Zealand Trade and Investment Minister Todd McClay. (indianexpress.com) For India, the headline concession is duty-free access on 100% of tariff lines in New Zealand, covering exports such as textiles, leather, carpets, ceramics and auto components. (thehindu.com) (commerce.gov.in) For New Zealand, the agreement eliminates or reduces tariffs on 95% of exports to India, with 57% becoming duty-free on day one and 82% covered when the deal is fully implemented. (beehive.govt.nz) India kept dairy and several farm-sensitive products outside the pact, including milk, cheese, onions, sugar, edible oils and rubber, while still allowing concessions on goods such as wool, coal, wood and some fruit. (indianexpress.com) (thehindu.com) The agreement also reaches beyond goods trade. India’s commerce ministry said New Zealand opened 118 services sectors and offered temporary entry quotas for 5,000 professionals and 1,000 work-and-holiday visas. (commerce.gov.in) Indian officials have also pointed to an investment commitment of $20 billion over 15 years, while New Zealand has highlighted a most-favoured-nation clause that could extend better wine and services access if its deal enters into force first. (thehindu.com) (beehive.govt.nz) The timing matters because the two countries only launched negotiations in March 2025 and announced the conclusion on December 22, 2025, after five formal rounds. (commerce.gov.in) (mfat.govt.nz) New Zealand’s foreign affairs ministry says two-way trade currently totals NZ$3.95 billion annually, and Indian media reports say both sides are targeting $5 billion in bilateral trade within five years. (mfat.govt.nz) (indianexpress.com) After the signing, New Zealand plans to table the text and national interest analysis in Parliament and send the treaty for select committee scrutiny before enabling legislation. (beehive.govt.nz)