India’s Free Trade Agreement (FTA) with New Zealand is set to take effect on October 20, offering duty-free access for all Indian exports to the island nation, according to Commerce and Industry Minister Piyush Goyal. This development follows the signing of the agreement in April, marking a significant step in India’s trade relations.
The FTA is designed to enhance economic collaboration between the two countries, including a commitment to facilitate $20 billion in investment from New Zealand into India over the next 15 years. However, to protect its domestic interests, India has strategically excluded sensitive agricultural products such as onions, chickpeas, peas, corn, almonds, and sugar from the agreement.
Beyond the pact with New Zealand, India is actively pursuing additional trade agreements. Negotiations with Canada are moving into their fifth round in October as both nations aim for progress on a Comprehensive Economic Partnership Agreement. Meanwhile, discussions with the European Union and Chile are also advancing, with India hopeful of significant developments with the EU by the year’s end.