India and New Zealand sign Free Trade Agreement in New Delhi
India and New Zealand signed a Free Trade Agreement at Bharat Mandapam, New Delhi, on 27 April 2026, giving zero-duty access to 100% of India's exports, a USD 20 billion investment commitment and post-study work visas, while excluding dairy and key farm products.
Summary
The India–New Zealand Free Trade Agreement was signed at Bharat Mandapam, New Delhi, on 27 April 2026 by Commerce and Industry Minister Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay. The agreement gives zero-duty market access to 100% of India's exports, while India has offered market access on 70% of tariff lines covering 95% of New Zealand's bilateral trade, excluding dairy, coffee, onions, sugar, spices, edible oils and rubber. New Zealand has committed USD 20 billion of investment in India, opened 118 services sectors, and offered post-study work rights of up to 3 years for STEM graduates and a 5,000-strong temporary employment visa quota. Negotiations were announced on 16 March 2025 and concluded in a record 9 months, the fastest FTA concluded by India; New Zealand is India's second-largest trading partner in Oceania.
Key facts
- Signed
- 27 April 2026, Bharat Mandapam, New Delhi
- Signatories
- Piyush Goyal; Todd McClay (NZ Trade & Investment Minister)
- India's exports
- Zero duty on 100%
- India's offer
- 70% of tariff lines, covering 95% of NZ bilateral trade
- Excluded
- Dairy, coffee, milk, onions, sugar, spices, edible oils, rubber, etc.
- Investment
- USD 20 billion commitment by New Zealand
- Services / mobility
- 118 sectors; post-study work up to 3 years (STEM); 5,000 TEE visa quota
- Negotiations
- Announced 16 March 2025; concluded in 9 months
Practice MCQs 3 questions
Who signed the India–New Zealand Free Trade Agreement on behalf of New Zealand on 27 April 2026?
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Correct answer: C — Todd McClay
The FTA was signed by Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay.
How much investment has New Zealand committed to India under the India–New Zealand FTA?
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Correct answer: A — USD 20 billion
The FTA includes a USD 20 billion investment commitment by New Zealand.
Consider the following statements about the India–New Zealand FTA: 1. India has excluded dairy products from its market-access offer. 2. Negotiations were concluded in a record 9 months after being announced in March 2025. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct: dairy is excluded, and talks announced on 16 March 2025 concluded in 9 months, the fastest FTA concluded by India.