India, New Zealand to Sign Landmark Trade Pact Today, Aim to Double Bilateral Trade

India and New Zealand are set to sign a long anticipated free trade agreement on April 27 in New Delhi, marking a major step in strengthening economic ties between the two countries and aiming to significantly expand bilateral trade and investment .

The agreement, which comes more than four months after negotiations were concluded in December last year, will be signed at Bharat Mandapam in the presence of Commerce and Industry Minister Piyush Goyal and New Zealand Minister for Trade and Investment Todd McClay .

The pact is designed to double bilateral trade to around 5 billion US dollars in the next five years and deepen cooperation across goods, services, and investment. It is also expected to bring around 20 billion US dollars in investment from New Zealand into India over the next 15 years across manufacturing, infrastructure, services, innovation, and job creation.

Under the agreement, India will gain improved market access in New Zealand, including duty free or reduced tariff access for several export categories. In return, New Zealand will receive tariff concessions on over 95 percent of its exports to India, including wool, coal, wood, wine, kiwifruit, blueberries, avocados, cherries, and seafood products.

However, India has carefully protected sensitive sectors, especially dairy and agriculture . No tariff concessions have been given for dairy products such as milk, cream, cheese, yoghurt, and whey. Key farm products like onions, sugar, spices, edible oils, rubber, and some metals and jewellery items have also been excluded to safeguard domestic farmers and industries.

A major feature of the pact is expanded mobility for Indian professionals. New Zealand will offer a temporary work visa pathway with an annual quota of 5,000 visas , allowing skilled Indian workers to stay for up to three years. This includes professionals in IT, engineering, healthcare, education, construction, as well as yoga instructors, Indian chefs, AYUSH practitioners, and music teachers.

The agreement also strengthens cooperation in agriculture through an agri technology action plan , focusing on kiwifruit, apples, and honey. It will support Indian farmers with improved planting material, technical training, orchard management, and better supply chain practices.

In addition, the pact is expected to boost India’s pharmaceutical and medical devices exports by streamlining regulatory approvals and accepting international quality inspection standards, helping reduce duplication and speed up market access.

It also includes measures to reduce non tariff barriers , improve customs procedures, and enhance cooperation in sanitary and technical standards.

With this agreement, India further expands its global trade outreach, adding New Zealand to its growing network of trade partners, including Australia, the United Kingdom, and European blocs, while continuing efforts to diversify exports and strengthen economic resilience.