Piyush Goyal Highlights Major Benefits of India-New Zealand FTA

Union Commerce and Industry Minister Piyush Goyal has highlighted the export, investment and employment opportunities expected from the India-New Zealand Free Trade Agreement (FTA).

Goyal said the agreement provides duty-free access for 100% of Indian exports to New Zealand, removing tariff disadvantages faced by Indian exporters competing with countries that already have preferential access to the New Zealand market. The provision covers sectors including textiles, apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture and processed foods.

According to the minister, the agreement is expected to particularly benefit MSMEs, farmers, handicraft and handloom artisans, while creating new employment opportunities for young Indians. The government has also highlighted zero-duty access for several labour-intensive sectors.

The FTA is backed by a USD 20 billion investment commitment over 15 years, aimed at supporting investment in areas including manufacturing, agriculture, infrastructure, startups, innovation and emerging technologies.

Goyal also stressed that India has retained protections for sensitive sectors. Dairy products and several agricultural commodities, including onions, chickpeas, peas, maize, almonds, sugar and artificial honey, are among products excluded from market-access concessions.

The agreement was signed in April 2026, and New Zealand's Parliament passed legislation giving effect to the pact on September 16. India said the step moves both countries closer to bringing the FTA into force.