THEBUSINESSBYTES BUREAU

NEW DELHI, SEPTEMBER 17, 2026

India on Thursday welcomed the passage by the New Zealand Parliament of legislation giving effect to the India-New Zealand Free Trade Agreement, a key step towards bringing the pact into force and opening duty-free access for 100 per cent of Indian exports to the New Zealand market.

The legislation was passed on September 16, marking an important milestone in the implementation of the FTA signed in New Delhi on April 27, 2026, and reflecting the commitment of both countries to deepen and broaden their economic partnership.

The agreement is expected to create significant new opportunities for Indian exporters, with duty-free access for all Indian exports to New Zealand from the date of its entry into force. Key sectors that stand to benefit include textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture and processed food products.

In return, the pact provides enhanced and preferential access to the Indian market for New Zealand products, including wood, wool, sheep meat and leather raw hides.

The development follows Prime Minister Narendra Modi's visit to New Zealand in July 2026, the first visit by an Indian Prime Minister to the country in four decades. During the visit, the two Prime Ministers reaffirmed their commitment to strengthening economic engagement and stressed the importance of early implementation of the trade agreement.

India and New Zealand have longstanding relations underpinned by strong people-to-people ties and growing cooperation in areas ranging from trade and investment to agriculture, education, sports and technology.

Beyond goods trade, the FTA provides new opportunities in services and investment, while strengthening pathways for professionals, students and youth. The agreement also envisages facilitating USD 20 billion of investment into India.

The pact further provides for closer bilateral cooperation in areas such as agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology and trade facilitation.

India and New Zealand are now working to complete their respective domestic processes and facilitate the early entry into force of the agreement, which is expected to give a fresh impetus to bilateral commerce and create new opportunities for businesses and communities in both countries.