Agreement opens duty-free access for Indian exports and includes $20 billion investment commitment
Global Times News | INDIA ; GTNS
SEPTEMBER 21, 2026 , NEW DELHI: India’s trade relationship with New Zealand is set for a fresh phase from October 20, 2026, when the bilateral Free Trade Agreement comes into force following ratification by both countries.
Commerce and Industry Minister Piyush Goyal announced the implementation date on Monday, describing the agreement as an important step in expanding economic ties between the two countries.
Under the pact, 100 per cent of Indian exports to New Zealand will receive duty-free access once the agreement becomes operational. Indian sectors such as textiles, apparel, leather, footwear, gems and jewellery, engineering goods and processed foods are among those expected to gain from improved market access.
The agreement also contains a significant investment component. New Zealand has committed to facilitate US$20 billion in investment in India over 15 years, according to the announcement.
The pact also changes the tariff landscape for New Zealand products entering India. Around 95 per cent of New Zealand exports are covered by tariff reductions or elimination, while sensitive Indian sectors including dairy and several agricultural commodities have been excluded from the agreement.
Both countries are also targeting a substantial expansion in bilateral trade, with an objective of doubling two-way trade by 2030.
The agreement arrives amid continuing changes in global trade conditions, giving India another avenue for expanding export markets and strengthening investment partnerships.
With October 20 set as the implementation date, businesses on both sides now move from negotiation and ratification towards preparing for the operational phase of the agreement.
Global Times News | INDIA ; GTNS NEWS DESK
SEPTEMBER 21, 2026