India-New Zealand sign free trade agreement| commerce minister piyush goyal and todd mcclay | live

On the eve of the India–New Zealand Free Trade Agreement (FTA) signing, Piyush Goyal and Todd McClay led an industry engagement programme in Agra, bringing together stakeholders from leather, pharmaceuticals, medical devices, AYUSH, engineering, and MSME sectors. The FTA was highlighted as a comprehensive partnership extending beyond tariff reductions to include investment, mobility, education, and people-to-people ties.Agra’s leather industry, which contributes around 75% of India’s footwear production, is expected to benefit significantly, with tariffs on exports to New Zealand dropping to zero. Industry leaders projected growth to USD 50 billion by 2030, driven by a shift toward high-value manufacturing and global sourcing opportunities. Collaboration between New Zealand’s raw material base and India’s manufacturing strength was identified as a key advantage.