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India and New Zealand have launched negotiations for a “comprehensive and mutually beneficial” Free Trade Agreement (FTA), the commerce ministry said in a statement Sunday, minutes after Prime Minister Christopher Luxon landed in New Delhi for a five-day official visit.
“With bilateral trade continuing to grow steadily, surpassing USD 1 billion during April-January 2025, the FTA negotiations aim to unlock new avenues for businesses and consumers, fostering mutual growth and prosperity of our nations,” Union Minister Piyush Goyal said in a post on X.
Wonderful to meet my friend, Mr. Todd McClay, New Zealand’s Trade Minister.
Advertisement · Scroll to continueWe are delighted to announce the launch of India-New Zealand Free Trade Agreement (FTA) negotiations. This marks a significant milestone in our partnership, reflecting our shared vision to deepen trade… pic.twitter.com/d4WkV7fVWg
— Piyush Goyal (@PiyushGoyal) March 16, 2025
The India-New Zealand FTA negotiations are aimed at achieving balanced outcomes that enhance supply chain integration and improve market access.
“This milestone reflects a shared vision for a stronger economic partnership, fostering resilience and prosperity,” the ministry said in a statement, adding, “Both countries have continuously worked towards building their bilateral relationship encompassing trade and investment.”
Goyal held a meeting with his New Zealand counterpart Todd McClay in New Delhi, aimed at strengthening the economic and trade ties between the two countries.
In 2023-24, New Zealand exported USD 0.84 billion in goods and services to India and imported USD 0.91 billion, for a total trade value of USD 1.75 billion.
India primarily imports wool, iron and steel, fruit and nuts, and aluminum from New Zealand while the Indian exports to New Zealand mostly consist of pharmaceuticals/medications, mechanical machinery, made-up textile articles, pearls, precious stones, and metals.
Luxon, who is on his first visit to India as prime minister, is accompanied by a high-level delegation, including ministers, senior officials and businesses. He will be the chief guest and deliver the keynote address at the inaugural session of the 10th Raisina Dialogue 2025 on March 17 in New Delhi.
Luxon is also scheduled to visit Mumbai on 19-20 March 2025, where he will hold interactions with business leaders.
