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IND-NZ FTA to kick in on October 20

By Sohail Khan 21 September 2026, 8:42 pm

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Business News›News›Economy›Foreign Trade›India-New Zealand FTA to come into force on October 20: Union Minister Piyush Goyal

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India-New Zealand FTA to come into force on October 20: Union Minister Piyush Goyal
Synopsis

The India-New Zealand Free Trade Agreement will come into force on October 20, 2026, providing duty-free access to all Indian exports to New Zealand. The pact includes a $20 billion investment commitment over 15 years, excludes sensitive sectors and aims to double bilateral trade in goods and services to NZ$7 billion by 2030.

India-New Zealand trade pact to come into force on Oct 20: Piyush Goyal — India's Piyush Goyal (L) and New Zealand's Todd McClay (R) during the signing of the India-New Zealand FTA

The India-New Zealand Free Trade Agreement (FTA) will come into force on October 20, 2026, providing duty-free access to 100% of India's exports to New Zealand and paving the way for investments worth $20 billion over the next 15 years, Commerce and Industry Minister Piyush Goyal said on Monday.

The agreement, signed on April 27, aims to boost bilateral trade and investment by expanding market access and strengthening economic ties between the two countries.

Also Read: India, Canada to hold next round of talks from October 5 for proposed trade pact: Piyush Goyal

“We are taking forward the next important milestone in our bilateral economic partnership, the entry into force of the India-New Zealand Free Trade Agreement, which will come into force on the auspicious occasion of Dussehra on 20th of October, 2026, reflecting our shared commitment to build a stronger and a more ambitious economic partnership with New Zealand,” Goyal said.

The pact will eliminate New Zealand's peak tariffs of up to 10% on key Indian exports, including textiles and apparel, leather and footwear, gems and jewellery, engineering goods, processed foods, ceramics, carpets, automobiles and auto components.

Indian manufacturers will also get tariff-free access to inputs such as wooden logs, coking coal and metal scrap.

Sensitive sectors excluded

Goyal said the agreement excludes sensitive sectors such as dairy, onions, chickpeas, peas, corn, almonds, artificial honey and sugar.

Trade target of NZ$7 billion by 2030

Both countries are aiming to double bilateral trade in goods and services to NZ$7 billion, or about Rs 35,000 crore, by 2030. Bilateral trade stood at $1.1 billion in 2025-26.

“Looking forward, our immediate priority should be to ensure that the provisions of the agreement immediately translate into tangible benefits for businesses and people of India and New Zealand…Together, let's ensure that this FTA becomes a strong foundation for a deeper, more dynamic and mutually beneficial economic partnership between our two countries,” Goyal said.

New Zealand Trade Minister Todd McClay described the agreement as a high-quality pact that would benefit citizens of both countries. He said it would also provide confidence to businesses amid global economic uncertainties.

Goyal said duty-free access would give Indian goods an edge over products from competitor countries in the New Zealand market.

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India New Zealand trade dealPiyush GoyalTodd McClay$20 billion investmentIndia New Zealand bilateral tradefree trade agreement 2026NZ$7 billion trade targetIndia New Zealand economic partnership

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