India–New Zealand FTA likely to be signed on April 24, may bring $20 billion investment boost over 15 years

India and New Zealand are expected to sign a Free Trade Agreement (FTA) on April 24 in Dehi, a move aimed at boosting trade and investment between the two countries. According to an official cited by PTI, the agreement could provide tariff-free access for Indian goods in the New Zealand market and attract up to $20 billion in investment over the next 15 years.

The two countries had announced the conclusion of negotiations for the trade deal on December 22 last year, with the goal of doubling bilateral trade to $5 billion over the next five years.

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The agreement is likely to be signed at Bharat Mandapam.

Under the deal, India is expected to get zero-duty access for all of its exports to New Zealand. In return, India will remove or cut tariffs on about 95 per cent of New Zealand’s exports, covering products such as wool, coal, wood, wine, avocados, and blueberries.

At the same time, India has decided not to offer duty concessions on certain sensitive items, including dairy products like milk, cream, whey, yoghurt, and cheese, as well as onions, sugar, spices, edible oils, and rubber, in order to protect domestic farmers and industries.

New Zealand will also gain duty-free access to several goods, including sheep meat, wool, coal, and most forestry and wood products.

In the services sector, New Zealand will open a temporary visa pathway for Indian professionals in skilled categories. This will allow up to 5,000 Indians each year to work in New Zealand for a period of up to three years.

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The visa scheme will cover a wide range of professions, including AYUSH practitioners, yoga instructors, Indian chefs, and music teachers, along with high-demand sectors such as IT, engineering, healthcare, education, and construction, helping improve movement of skilled workers and services trade between the two countries.

Trade between the two nations remains relatively modest. Bilateral merchandise trade stood at $1.3 billion in 2024–25, while total trade in goods and services reached about $2.4 billion in 2024. Of this, services trade accounted for $1.24 billion, driven mainly by travel, IT, and business services.

With inputs from PTI